US Spot Bitcoin ETFs Record $200M+ Daily Inflows for First Time Since May

US-listed spot Bitcoin exchange-traded funds snapped back into positive territory this week, recording their first daily net inflow above $200 million since early May. The shift marks a notable interruption to a prolonged outflow cycle that has been weighing on inflows for much of the year.

According to SoSoValue data, the ETFs pulled in $221.7 million in net inflows on Thursday. That ended a 10-day streak of net outflows totaling more than $2.7 billion, following what many market participants have described as one of the weakest periods for US spot Bitcoin ETF demand in 2024.

Key takeaways

• US spot Bitcoin ETFs recorded $221.7 million in net inflows on Thursday, ending a 10-day outflow run totaling over $2.7 billion.
• June stood out as a particularly tough month for flows, with net outflows reaching a record $4.5 billion, according to earlier coverage cited by the report.
• Fidelity’s Wise Origin Bitcoin Fund (FBTC) led the rebound with $166 million in net inflows, accounting for about 75% of the day’s total, per Farside Investors.
• BlackRock’s iShares Bitcoin Trust (IBIT) continued to see outflows, with $40.4 million leaving the fund on Thursday and over $2.2 billion lost across an 11-session streak since June 17.
• While Bitcoin flows improved, sentiment remained fragile, with the Fear & Greed Index reading “extreme fear” as Bitcoin recovered above $61,000.

Bitcoin ETF demand reverses after a prolonged outflow stretch

The most immediate story behind Thursday’s turnaround is the magnitude of the inflow itself. After weeks in which spot Bitcoin ETF balances were consistently reduced by withdrawals, investors added risk back to the funds—at least for a day—bringing net inflows above the $200 million threshold that had not been seen since early May.

SoSoValue’s tracking shows Thursday’s $221.7 million inflow broke a 10-day streak of net outflows. In context, the report also points to June as a low point: US spot Bitcoin ETFs logged a record $4.5 billion in net outflows during the month, underscoring how difficult the demand backdrop has been.

Market conditions appear to be part of the catalyst. At the same time as ETF flows improved, Bitcoin regained the $61,000 area after briefly dipping below $59,000. The day’s broader sentiment remained cautious, however, with Alternative.me’s Fear & Greed Index sitting at an “extreme fear” reading on Friday.

One notable viewpoint referenced in the report comes from Bitwise Chief Investment Officer Matt Hougan, who suggested that the market could be nearing a bottom, reflecting a growing contingent of investors interpreting the recent selloff as potentially late-cycle rather than early-cycle.

Fidelity leads inflows; BlackRock’s IBIT remains under pressure

Thursday’s inflow rebound was not evenly distributed across issuers. Fidelity’s Wise Origin Bitcoin Fund (FBTC) stood out as the primary driver of the positive day, pulling in $166 million in net inflows. Farside Investors data cited in the report indicates this represents roughly 75% of the total inflow.

Other funds contributed smaller amounts. ARK 21Shares’ Bitcoin ETF (ARKB) added $91.8 million in net inflows, while the VanEck Bitcoin ETF (HODL) attracted $4.4 million and Valkyrie’s Bitcoin Fund (BRRR) recorded $1.7 million.

However, the rebound did not extend to the largest issuer in a way that would suggest a full marketwide reversal of investor caution. BlackRock’s iShares Bitcoin Trust (IBIT)—the largest US spot Bitcoin ETF by assets—continued to post net outflows. On Thursday, IBIT recorded $40.4 million in net outflows.

According to the report, IBIT has now lost more than $2.2 billion during an 11-session outflow streak that began on June 17. For investors watching ETF flows as a proxy for institutional appetite, the divergence is important: even as some funds see renewed inflows, persistent withdrawals from a dominant player can limit how quickly overall sentiment can stabilize.

Altcoin ETFs also see inflows as crypto market cap rises

The flow recovery extended beyond Bitcoin. The report notes that US spot Ether ETFs posted net inflows on Thursday, attracting $29.1 million—after $14.9 million in inflows the previous day.

XRP ETFs also returned to positive territory, adding $6.6 million after two consecutive sessions of net outflows. Together, these developments suggest that the rebound in risk appetite—however uneven—was not limited strictly to the largest asset in the space.

Broader market metrics aligned with the improved tone in flows. The report states that global crypto market capitalization increased by 2.4% over the past 24 hours to $2.22 trillion, based on CoinGecko data, while Bitcoin recovered above $61,000.

What traders and investors should monitor next

Thursday’s inflow figure is a meaningful signal, but it’s also a single day in a still-fragile pattern. With IBIT continuing to bleed out and overall sentiment still described as “extreme fear,” the next few sessions will matter most: investors will likely watch whether inflows persist across multiple days and whether outflows from the largest fund begin to slow, or if Thursday’s rebound turns out to be temporary.