Spot Bitcoin ETFs Record $342M Outflow, Breaking 15‑Day Inflow Streak

On July 1, the U.S. Spot Bitcoin exchange-traded funds (ETFs) witnessed a significant shift, recording a net outflow of $342 million for the first time in almost three weeks.

The development signals a period of cautious repositioning among investors, particularly as the market braces for historically slower performance in the third quarter for Bitcoin.

Data compiled by SoSoValue revealed that the twelve U.S.-listed spot Bitcoin ETFs collectively experienced net outflows of $342.25 million as of July 1. This marks the conclusion of a robust 15-day inflow streak, during which these funds had accumulated a substantial $4.73 billion in assets since mid-June.

Institutions Take a Rest?

Fidelity’s FBTC saw the most money leave, with $172.73 million withdrawn. Grayscale’s GBTC followed, with $119.51 million redeemed. ARK 21Shares’ ARKB and Bitwise’s BITB also had significant outflows, totaling $27.03 million and $22.98 million, respectively.

Notably, BlackRock’s IBIT, which had been the best-performing ETF recently, had no money move in or out on this day; the other ETFs also showed no notable activity.

This change in inflows for Bitcoin ETFs happened at the same time the U.S. Senate passed a large spending bill on July 1. This bill, worth $3.3 trillion, was approved by a narrow vote of 51–50, with Vice President J.D. Vance casting the deciding vote.

Supporters of digital currencies made efforts to amend the 1,000-page law, but it excluded specific rules for Bitcoin, cryptocurrency mining, and staking. This omission reportedly displeased some in the digital asset world.

Moreover, the House of Representatives will now finally review the bill before the July 4 deadline, when the President is expected to sign it into law. Despite earlier hopes, the absence of cryptocurrency from this vital legislation may have prompted investors to sell some of their Bitcoin holdings to secure profits.

Market Reaction

The cryptocurrency market reacted by dropping by nearly 2.3% to a low of $3.36 trillion. Bitcoin also fell, losing about 2% to a low of around $105,000 on Wednesday morning.

CoinGlass data reveals that the crypto market liquidated $242.6 million in cryptocurrency on July 1, primarily from long positions. Nonetheless, at the time of this report, Bitcoin had started to recover some of its losses, trading back above $107,000, and was up nearly 40% from its year-to-date low of $76,300 in early April.

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