US Bitcoin ETF Net Inflow: 4026 BTC

US-based spot bitcoin ETFs recorded a net inflow of 4,026 BTC on July 6th, equivalent to approximately $265.7 million at that day's price. This marked the second consecutive positive day, following a $221.72 million inflow on July 2nd, breaking a ten-day streak of outflows.

IBIT alone attracted the majority of this inflow, with BlackRock's product accounting for over half of the total flow with a share of $209.4 million. This is a familiar pattern showing that the weighting in the ETF market is still largely concentrated in IBIT, with the largest fund usually taking the largest share even when there is a recovery across the category.

This recovery comes against the backdrop of a truly sharp decline throughout June. June was the worst month in history for bitcoin ETFs, with net outflows exceeding $4 billion. Between June 29 and July 2, there was an additional $527 million in outflows during the four sessions, with IBIT alone recording its sharpest day with a $300.4 million outflow. Therefore, this positive flow over the last two days is the first real sign of a respite after a long and difficult period of selling.

The Bitcoin price also recovered from around $61,000 to over $64,000 during this period, and trading volume increased significantly. Several factors are at play simultaneously behind this movement: expectations of loose monetary policy following weak employment data, mechanical buying pressure from the closing of short positions, and the stabilization of ETF inflows. Ethereum ETFs also recorded $20.7 million in inflows on the same day, with ETHA alone attracting $23.3 million, indicating that the recovery is not limited to Bitcoin.

However, to fully understand the picture, it's necessary to look at the weekly data as well. The seven-day net flow remains in negative territory at approximately -1,661 BTC, indicating that the positive flow of the last two days has not yet offset the large outflow from June. Analysts emphasize that such single-day or two-day positive data points alone are not sufficient as a short-term price signal; what truly matters is how these flows will pattern over the coming days and weeks.

For those tracking ETF flows through Gate, the key point to watch is whether this two-day positive streak continues, as a move out of negative territory for the weekly total would be the first concrete evidence that the institutional side has truly returned from its June withdrawal mode.
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