Bitcoin ETF Inflows Hit $222M, Ending 10-Day Outflow Streak
U.S. spot Bitcoin ETFs attracted $221.7 million on Thursday, their largest daily inflow in two months, snapping a 10-day losing streak. The reversal follows a weak jobs report and Fed comments easing rate fears, pushing Bitcoin back above $61,000. Analysts remain cautious about a sustained uptrend.
Quick Take
$221.7M inflow broke 10-day ETF outflow streak.
Fidelity's FBTC led with $166M; BlackRock's IBIT saw outflows.
Weak jobs data and Fed comments eased rate hike fears.
Analysts warn recovery may be temporary near-term.
Market Impact Analysis
BullishETF inflows and easing rate fears provide near-term support, but sustained trend uncertain.
Speculation Analysis
Key Takeaways
- U.S. spot Bitcoin ETFs broke a 10-day outflow streak with $221.7 million in net inflows, the largest haul in two months.
- A weak jobs report and dovish Fed signals eased rate hike fears, fueling a Bitcoin rebound above $61,000.
- Fidelity’s FBTC led inflows at $166 million, but BlackRock’s IBIT continued outflows, underscoring uneven demand.
- Analysts warn the recovery may be fleeting, with Bitcoin likely to consolidate near recent lows without a policy catalyst.
What Happened
U.S. spot Bitcoin ETFs snapped a brutal 10-day losing streak on Thursday, pulling in $221.7 million—their biggest daily inflow in two months. The reversal ended a stretch that drained $2.7 billion from the funds and capped June as their worst month ever, with $4.5 billion in outflows. Fidelity’s FBTC dominated with $166 million, while BlackRock’s IBIT bucked the trend with a $40 million outflow. Bitcoin, which had dipped below $58,000 earlier in the week, surged back above $61,000 as the data landed.
The Numbers
The $221.7 million inflow broke a streak that cost funds $2.7 billion. June outflows hit a record $4.5 billion, eclipsing previous monthly totals. The Labor Department reported only 57,000 jobs added in June, well short of the 110,000 forecast, while the unemployment rate ticked higher. Fed Chair Kevin Warsh’s comments that inflation risks have eased reduced odds of further rate hikes, pulling the dollar back. Bitcoin’s price rebounded over 5% from its weekly low.
Why It Happened
A softer U.S. jobs report and a dovish shift from the Fed were the spark. Markets had priced in aggressive rate hikes, lifting the dollar and real yields against non-yielding assets like Bitcoin. The weak payrolls print and Warsh’s inflation remarks flipped that narrative, cooling rate expectations and easing pressure on risk assets. “The same positive shift is now supporting renewed flows,” noted Andri Fauzan Adziima of Bitrue Research Institute, as investors rotated back into beaten-down crypto ETFs.
Broader Impact
The inflow reversal hints at how tightly crypto ETF flows track macro sentiment. With Ethereum ETFs also posting inflows of $14.9 million and $29.1 million on back-to-back days, the data suggests a broader risk-on revival triggered by rate relief. However, analysts caution that without a clear policy pivot, the bounce may be short-lived, keeping Bitcoin range-bound and testing recent lows.
What to Watch Next
- Monitor Fed speeches and minutes for hints on rate cuts—any hawkish surprise could reverse ETF flows.
- Watch Bitcoin’s ability to hold $60,000; a breakdown could trigger another wave of ETF outflows.
- Keep an eye on BlackRock’s IBIT flows as a bellwether for institutional sentiment.
This article is for informational purposes only and does not constitute financial advice.
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