U.S. spot bitcoin ETFs posted about $527 million in net outflows over the four trading days ending Thursday, July 2, their eighth consecutive negative week, per The Block's analysis of SoSoValue data. That extends the longest weekly outflow run in the funds' history; before this stretch began in mid-May, they had never strung together more than five net outflow weeks.
The record week arrived despite a strong finish. The funds pulled in $221.72 million on Thursday, their largest single-day inflows since May 5, ending a 10-session outflow streak that had drained about $2.71 billion, The Block reported Friday. Fidelity's FBTC led with $165.96 million, followed by ARK and 21Shares' ARKB at $91.84 million.
The weekly outflows did slow considerably, down from $1.79 billion the week before. U.S. markets were closed Friday for observance of the Independence Day holiday, shortening the week to four sessions.
BlackRock's IBIT, the largest bitcoin fund by net assets, was the only ETF to post an outflow Thursday, losing $40.43 million in its 11th straight day of redemptions, a run that has cost the fund roughly $2.2 billion. The fund now holds $44.91 billion against $59.99 billion in cumulative inflows since launch. The Block reported last week that the average IBIT investor is sitting on a loss of roughly 40%.
