Spot Bitcoin (BTC) exchange-traded funds (ETFs) drew $221.72 million in net inflows on July 2, breaking a 10-day run of redemptions.
The turnaround lifted total net assets across the funds to $74.37 billion, reversing a stretch that reflected the deepest institutional pullback since the products launched.
A Reversal After a Record Month of Outflows
The inflow came after a bruising phase for the funds. Over the prior 10 trading sessions, spot Bitcoin ETFs bled more than $2.7 billion as capital fled the products.
That streak capped the worst month on record. Bitcoin ETFs lost $4.5 billion in June, their largest monthly outflow since launching in January 2024. BlackRock’s iShares Bitcoin Trust (IBIT) drove roughly 79% of that total, shedding $3.55 billion alone.
Meanwhile, major crypto funds moved with Bitcoin on the day. Ethereum (ETH) ETFs led the group with $29.08 million in inflows on July 2, building on $14.89 million a day earlier that had ended a nine-day losing streak.
The gains spread across other products. Hyperliquid (HYPE) ETFs added $2.24 million and Solana (SOL) ETFs drew $2.2 million, while XRP (XRP) ETFs pulled $6.55 million after two straight days of outflows.
BTC Price Recovery Takes Hold as Rate-Hike Odds Ease
The inflow arrived during a broader price recovery. Bitcoin reclaimed $60,000 on July 1 after Fed Chair Kevin Warsh said “inflation risks have come down”
The rally extended on July 2. A weak jobs report showing 57,000 new positions, about half what economists expected, drove BTC to an intraday peak above $62,000.
The data reshaped rate expectations. CME FedWatch showed the probability of a July hike falling to 17.6%, down from 28.9% a day earlier, as traders priced out tightening.
Whether Thursday’s inflow marks a durable turn or a single-session bounce remains to be seen.
Source: BeInCrypto
