Bitcoin ETFs Break Their Winning Streak With $225M in Fresh Outflows
TL;DR
- U.S.-listed spot Bitcoin ETFs recorded $225.2 million in net outflows on July 23, ending a streak of seven consecutive trading sessions of net inflows.
- BlackRock accounted for the majority of the outflows, with $202.5 million in redemptions from its IBIT fund, by far the largest outflow of the day.
- Spot Ethereum ETFs extended their positive streak to five consecutive sessions, attracting $26.3 million in net inflows on the same day.
The spot Bitcoin ETFs listed in the United States ended a seven-session streak of consecutive net inflows on July 23, posting combined outflows of $225.2 million, according to data from SoSoValue.
The reversal was driven by the return of geopolitical tension between the United States and Iran, which pressured equity markets and briefly pulled BTC below $65,000. At the close of the session, BTC was trading around $65,403, after touching a low of $64,600 according to CoinGecko.
Bitcoin Under Pressure: the Weight of IBIT
The bulk of the outflows fell almost entirely on BlackRock and its iShares Bitcoin Trust, known as IBIT, which recorded $202.5 million in redemptions. The fund had accumulated more than $60.6 billion in net inflows since its launch, according to Farside Investors, making the trend reversal a notable episode, though not necessarily a defining one.
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