BlackRock and Fidelity drive Bitcoin ETF rebound
BlackRock, the world’s largest asset manager, played a central role in the surge. Its spot Bitcoin ETF, IBIT, attracted nearly $139 million, accounting for the majority of the total inflow among all Bitcoin funds. Fidelity’s FBTC product brought in an additional $21 million. None of the U.S. spot Bitcoin ETFs reported outflows on the day, with all funds either gaining assets or remaining unchanged.
On the ether side, BlackRock’s recently launched ETHA ETF drove the entire net inflow, drawing about $58 million. Other ether ETFs reported flat flows, contributing neither inflows nor outflows to the day’s total.
Total assets under management (AUM) in spot Bitcoin ETFs increased from around $75 billion to approximately $78 billion. Ether ETF assets surpassed $10 billion, underscoring persistent investor interest in crypto-related exchange-traded products.
Mini dictionary: SoSoValue, a data platform that tracks fund flows and performance in cryptocurrency ETFs and ETPs, is frequently cited for its up-to-date inflow and outflow statistics.
Market prices jump alongside inflows
The strong inflow coincided with higher market prices. Spot Bitcoin ETF prices climbed nearly 4% in a single session, rebounding after weeks of volatility. Ether ETFs surged by about 6%, marking the most robust one-day move seen in recent weeks for both asset classes.
Spot ETF flows mirrored underlying crypto prices, with both Bitcoin and ether funds experiencing their largest single-day gains in weeks after substantial outflows the prior day.
Industry analysts pointed out that such swings, though dramatic, have become increasingly common as digital asset ETFs mature and respond quickly to shifts in investor sentiment and spot market volatility.
Continued volatility in July ETF flows
This month, ETF flows have displayed no clear direction, alternating between net inflows and net outflows almost every other trading day. The $425 million redemption from Bitcoin ETFs on July 13 marked the steepest outflow so far in July, with Tuesday’s $181 million inflow ranking as the second largest single-day addition.
No sustained trend has emerged for either Bitcoin or ether ETFs during this period, as neither inflows nor outflows have persisted for more than three consecutive days.
| Product | July 13 (Outflow) | July 16 (Inflow) |
|---|---|---|
| U.S. Bitcoin ETFs (total) | $425 million out | $181 million in |
| U.S. Ether ETFs (total) | Flat | $58 million in |
As digital asset ETFs continue to experience volatile flows, market observers are closely watching for signs of lasting investor direction as the month progresses.
Disclaimer: The market is risky, and investment needs to be cautious. This article does not constitute investment advice. Users should consider whether any opinions, views, or conclusions in this article are in line with their specific circumstances. Investment based on this is at their own risk.