Thursday's inflows ended a run that drained $2.7 billion, but analysts warn one green day isn't necessarily a trend reversal.

US spot Bitcoin ETFs recorded $223.5 million in net inflows on July 2, ending a 10-day outflow streak that saw billions exit the funds during May and June.

Spot ETFs had their strongest inflow day in two months, driven by funds other than BlackRock’s IBIT.