Bitcoin ETF

Bitcoin

Spot

Grayscale Bitcoin Trust

Spot Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) ETFs in the U.S. broke their five-day net inflow streak on July 2, witnessing $13.7 million in net outflows amid a predominantly bearish day for BTC.&nbsp; 
According to <a href="https://farside.co.uk/?p=997" target="_blank" rel="">data</a> provided by Farside Investors, these investment products recorded $13.7 million in negative net flows on July 2. This follows a positive start to the month, with $129.5 million in capital inflows on July 1, the highest in nearly a month. 
The recent bearish trend was significantly influenced by the disappointing performance of the Grayscale Bitcoin Trust (GBTC). This product alone experienced $32.4 million in net outflows yesterday, its largest outflow since June 24. 
Moreover, the cumulative net outflow comes after five consecutive days of inflows. Notably, spot BTC ETFs <a href="https://crypto.news/bitcoin-etfs-enjoy-6-days-of-continued-9-figure-outflows/">experienced</a> their most bearish period between June 13 and 24, losing $1.134 billion in capital. This selloff eventually led to a five-day <a href="https://crypto.news/spot-bitcoin-etfs-rebound-with-137-2m-inflow-surge/">winning streak</a>, which has now come to an end. 
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Notably, the Bitwise Bitcoin ETF (BITB) contributed to the negative net flow on July 2, recording $6.8 million in net outflows. Other investment products either saw zero flows or experienced mild inflows.&nbsp; 
The Fidelity Wise Origin Bitcoin Trust (FBTC), the VanEck Bitcoin Trust (HODL), and the Ark 21Shares Bitcoin ETF (ARKB) contributed to reducing the net outflow for the day. FBTC received inflows of $5.4 million, while HODL and ARKB recorded $3.5 million and $2.5 million in net inflows, respectively. 
Despite the bearish trend, the <a href="https://crypto.news/blackrocks-ibit-flips-grayscales-gbtc-to-lead-us-spot-bitcoin-etfs/">iShares Bitcoin Trust</a> (IBIT) from BlackRock maintained its impressive performance. 
IBIT saw $14.1 million in positive net flows yesterday, compensating for the zero flows recorded on July 1.&nbsp; 
Remarkably, IBIT last experienced a net outflow on June 21. This was only the third negative flow for the product, following a $3.06 million net outflow on May 7 and $38.68 million on May 1. 
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Expectedly, the July 2 ETF outflows coincided with a resumption of the BTC selling pressure. After three days of persistent gains, BTC dropped 1.22% on July 2, dropping below the $63,000 mark again. With a subsequent 2.09% decline this morning, Bitcoin is now down 3.12% in July, currently trading at $60,820. 
 Read more: <a href="https://crypto.news/expert-spot-ethereum-etf-to-drive-ether-demand/"> Expert: Spot Ethereum ETF to drive Ether demand </a>

Bitcoin ETFs end 5-day inflow streak, record $13 million net outflows

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