Bitcoin ETFs just broke a brutal $500M losing streak, but the entire recovery is an illusion propped up by BlackRock
U.S. spot Bitcoin ETFs snapped a four-session losing streak on July 29 and finished the day with $32.1 million in net inflows.
However, one fund did all the lifting. BlackRock’s iShares Bitcoin Trust ETF, or IBIT, pulled in $89.8 million, enough to cover the $43.1 million that left Fidelity’s Wise Origin Bitcoin Fund, or FBTC, and the $14.6 million that exited the ARK 21Shares Bitcoin ETF, or ARKB.
July 29 U.S. spot Bitcoin ETF net flows ($ millions)
| Fund | Net flow |
|---|---|
| BlackRock IBIT | +$89.8 million |
| Fidelity FBTC | -$43.1 million |
| ARK 21Shares ARKB | -$14.6 million |
| All other listed funds | $0.0 |
| Total | +$32.1 million |
IBIT’s inflow exceeded the complex’s net result by exactly $57.7 million because the Fidelity and ARK outflows reduced BlackRock’s contribution. Every other listed product showed zero net flow. A zero entry means no net flow was reported for the session, not that no ETF shares changed hands in secondary-market trading.
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