BlackRock IBIT Drives $225M Outflow, Ending 7-Day Bitcoin ETF Streak

Woofun AI reports that the seven-session inflow streak for US spot Bitcoin ETFs concluded on July 23, driven primarily by net redemptions from BlackRock’s iShares Bitcoin Trust (IBIT). This single-day reversal marked a distinct shift in market sentiment, with IBIT serving as the primary catalyst for the sector-wide outflow.

The aggregate net outflow for the sector reached $225 million, with IBIT alone accounting for $202 million, or 89.96% of the total. While five other funds recorded combined outflows of $27.6 million, Grayscale’s GBTC attracted $5 million, resulting in a net contribution of $22.6 million from non-IBIT products.

Concurrently, the CME CF Bitcoin Reference Rate benchmark closed at $64,768, and BlackRock reported a 1.63% decline in IBIT’s net asset value.

Structurally, the $202.5 million net outflow from IBIT was nearly nine times larger than the combined outflows from all other products. This concentration highlights that the activity reflects net redemption activity in IBIT shares rather than BlackRock withdrawing corporate capital or independently deciding to sell Bitcoin. Misinterpreting this mechanism obscures the actual investor positioning established during the trading session.

Per Woofun AI, the broader eight-session window remains firmly positive with $774.2 million in net demand, despite the $999.3 million accumulated during the streak facing partial reversal. The durability of the trend now hinges on whether this one-session reset extends into subsequent finalized sessions. Repeated outflows would signal weakened ETF demand, while a return to inflows would confirm July 23 as an isolated correction.