Bitcoin ETFs just broke a brutal $500M losing streak, but the entire recovery is an illusion propped up by BlackRock

Jul 31, 2026 - 07:15

U.S. spot Bitcoin ETFs snapped a four-session losing streak on July 29 and finished the day with $32.1 million in net inflows.

However, one fund did all the lifting. BlackRock’s iShares Bitcoin Trust ETF, or IBIT, pulled in $89.8 million, enough to cover the $43.1 million that left Fidelity’s Wise Origin Bitcoin Fund, or FBTC, and the $14.6 million that exited the ARK 21Shares Bitcoin ETF, or ARKB.

July 29 U.S. spot Bitcoin ETF net flows ($ millions)

Fund	Net flow
BlackRock IBIT	+$89.8 million
Fidelity FBTC	-$43.1 million
ARK 21Shares ARKB	-$14.6 million
All other listed funds	$0.0
Total	+$32.1 million

IBIT’s inflow exceeded the complex’s net result by exactly $57.7 million because the Fidelity and ARK outflows reduced BlackRock’s contribution. Every other listed product showed zero net flow. A zero entry means no net flow was reported for the session, not that no ETF shares changed hands in secondary-market trading.

BlackRock’s IBIT accounted for 90% of a $225 million Bitcoin ETF reversal after a seven-day buying streak

The reversal erased 22.5% of the preceding $999.3 million inflow streak, while Bitcoin ended the session below $65,000.

Jul 24, 2026 · Liam 'Akiba' Wright

The preceding run began with $225 million of net outflows on July 23 and continued with $240 million on July 24, $11 million on July 27, and $49 million on July 28. Those four consecutive trading sessions totaled $526 million in net outflows. Adding July 29’s $32 million inflow leaves the five-session period $494 million in the red, so the positive print recovered only part of the earlier losses.

Three key demand drivers stall at once, leaving Bitcoin’s $64,000 support to long-term holders

ETF outflows, softer perpetual buying and stagnant on-chain capital leave long-term holders carrying the immediate support test.

Jul 29, 2026 · Liam 'Akiba' Wright

The SEC’s explanation of ETFs says only authorized participants transact directly with a fund in large creation units. ETF shares can then be sold in the secondary market to individuals, institutions or market makers.

BlackRock’s fund attracted enough net inflow to offset outflows at Fidelity and ARK for one session. So it does not really establish that institutional demand returned across the U.S. spot Bitcoin ETF market.

Bitcoin ETF inflows return, but $2.3 billion stablecoin liquidity drain leaves $57,000 exposed

The split between improving Wall Street demand and weakening trading liquidity leaves $57,000 in view if support fails.

Jul 20, 2026 · Oluwapelumi Adejumo

If the next sessions provide positive readings that extend beyond IBIT or persist at the aggregate level, the issuer distribution will look different. If the other products remain flat or negative, the headline total will continue to depend on BlackRock’s fund.

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