For the first time in 10 days, fresh money has flowed into spot bitcoin ETFs. We break down what changed in early July.
On July 2, US spot bitcoin ETFs posted a net inflow of $221.7M, breaking a 10-day outflow streak during which investors pulled $2.73B.
Hot topic: Bitcoin Tests $62K on Weak US Jobs Data — Short Liquidations Hit $450M
Fidelity’s FBTC led the inflows with $166M, ARKB added $91.8M, and VanEck HODL contributed $4.4M. The only fund with outflows was BlackRock’s IBIT at $40.4M, marking its 11th consecutive day of losses.
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June Was the Worst Month on Record for Spot Bitcoin ETFs
Despite the positive day, the broader picture remains grim. Since May 7, bitcoin (BTC) ETFs have lost $8.95B across 34 negative trading days. Only five sessions in that period were positive.
June was the worst month on record with $4.5B in outflows. According to Glassnode, daily inflows have been declining since September 2025, and positive days are becoming increasingly rare.
Analyst That Martini Guy noted that the bounce doesn’t change the market structure.
Read more: BlackRock vs Fidelity — Who Controls the Future of Bitcoin ETFs?
Why ETF Inflows Matter: What Analysts Say
LVRG Research Director Nick Ruck said the inflows suggest cautious position rebuilding after a period of profit-taking and macro uncertainty. He attributed IBIT’s outflows to capital rotating into smaller or cheaper products, not bearish sentiment.
Glassnode analyst Chris Bimeish added that long-term bitcoin holders have returned to accumulation after a prolonged distribution phase, and buying activity is expanding across wallet groups, including small holders and entities with 100–1,000 BTC.
Nick Ruck emphasized that sustained inflows are needed for a durable recovery.
“The crypto landscape is moving from a defensive stance to selective optimism, but sustained inflows are needed to confirm the shift.”
What This Means for the Crypto Market
The July 2 inflow is a technical positive, but it doesn’t yet offset the scale of May-June outflows. Investors will watch whether this inflow becomes a sustained trend. If inflows continue next week, it could confirm a sentiment shift and support bitcoin’s recovery toward $65K-$67K. If it’s a one-off, the market risks remaining in a zone of uncertainty.
Learn more: Best Crypto ETF Contracts for 2026 — Which ETFs Will Dominate Trading This Year?
