Bitcoin ETFs End Outflow Streak, But BlackRock Masks $494M Deficit

Woofun AI reports that U.S. spot Bitcoin ETFs terminated a four-session losing streak on July 29, a recovery entirely engineered by BlackRock’s iShares Bitcoin Trust ETF, or IBIT.

The aggregate $32.1 million net inflow was not a broad-based return but a mathematical offset: IBIT attracted $89.8 million, which absorbed the $43.1 million exodus from Fidelity’s Wise Origin Bitcoin Fund, or FBTC, and the $14.6 million departure from the ARK 21Shares Bitcoin ETF, or ARKB.

Structurally, this single-entity dominance masked the continued weakness across competitor products, as neither Fidelity nor ARK registered positive flows.

Per Woofun AI, the preceding volatility included $225 million in outflows on July 23, $240 million on July 24, $11 million on July 27, and $49 million on July 28, totaling $526 million in net losses over those four sessions. When July 29’s $32 million gain is applied to this sequence, the five-session period remains $494 million in the red, indicating that the recent positive print recovered only a fraction of the earlier capital flight.

This dynamic suggests that institutional demand has not genuinely returned to the U.S. spot Bitcoin ETF market, but rather remains concentrated within BlackRock’s fund. Unless future sessions demonstrate positive readings extending beyond IBIT or persisting at the aggregate level, the issuer distribution will continue to rely on BlackRock’s fund to mask broader market fragility.