Bitcoin ETFs Snap 10-Day Outflow Streak With $221.7 Million Inflow
Spot Bitcoin (BTC) exchange-traded funds (ETFs) drew $221.72 million in web inflows on July 2, breaking a 10-day run of redemptions.
The turnaround lifted whole web property throughout the funds to $74.37 billion, reversing a stretch that mirrored the deepest institutional pullback because the merchandise launched.
A Reversal After a Record Month of Outflows
The influx got here after a bruising part for the funds. Over the prior 10 buying and selling periods, spot Bitcoin ETFs bled greater than $2.7 billion as capital fled the products.
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That streak capped the worst month on file. Bitcoin ETFs misplaced $4.5 billion in June, their largest month-to-month outflow since launching in January 2024. BlackRock’s iShares Bitcoin Trust (IBIT) drove roughly 79% of that whole, shedding $3.55 billion alone.
Meanwhile, main crypto funds moved with Bitcoin on the day. Ethereum (ETH) ETFs led the group with $29.08 million in inflows on July 2, constructing on $14.89 million a day earlier that had ended a nine-day shedding streak.
The beneficial properties unfold throughout different merchandise. Hyperliquid (HYPE) ETFs added $2.24 million and Solana (SOL) ETFs drew $2.2 million, whereas XRP (XRP) ETFs pulled $6.55 million after two straight days of outflows.
BTC Price Recovery Takes Hold as Rate-Hike Odds Ease
The influx arrived throughout a broader worth restoration. Bitcoin reclaimed $60,000 on July 1 after Fed Chair Kevin Warsh stated “inflation dangers have come down”
The rally prolonged on July 2. A weak jobs report showing 57,000 new positions, about half what economists anticipated, drove BTC to an intraday peak above $62,000.
The information reshaped price expectations. CME FedWatch confirmed the chance of a July hike falling to 17.6%, down from 28.9% a day earlier, as merchants priced out tightening.
Whether Thursday’s influx marks a sturdy flip or a single-session bounce stays to be seen.
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The submit Bitcoin ETFs Snap 10-Day Outflow Streak With $221.7 Million Inflow appeared first on BeInCrypto.
