U.S. spot Bitcoin (CRYPTO: BTC) ETFs logged back-to-back daily inflows for the first time since May 5-6, pulling in $487 million across two sessions after roughly eight weeks of bleeding $8.26 billion in outflows.
BlackRock Led The Return After 11 Straight Days Of Selling
BlackRock’s IBIT (NASDAQ:IBIT) purchased $209.39 million in Bitcoin on July 6, ending an 11-day selling streak and accounting for the bulk of the $265.69 million in total ETF inflows that day.
The prior session on July 2 added another $221.72 million, making the two-day stretch the clearest sign yet that institutional demand is returning after one of the longest outflow streaks since the ETFs launched.
Grayscale Research said Strategy’s $216 million Bitcoin sale yesterday should be read as a positive development rather than a bearish signal, noting the sale rebuilt Strategy’s dollar reserve to cover 17 months of preferred dividend payments.
