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Bitcoin ETFs see $465M outflow over two days, led by BlackRock’s IBIT

Analysts linked the reversal to renewed U.S.-Iran tensions, oil above $100, and rising odds of a Fed rate hike, which also pressured other asset classes.

Reported · Written up by our desk · Bitcoin

U.S. spot Bitcoin ETFs posted net outflows for a second straight day on Friday, reversing a seven day inflow streak, according to Farside Investors data cited by Decrypt. The funds shed $465 million over two days, nearly reversing about half of the roughly $1 billion they pulled in during the prior streak.

The outflows included $240 million on Friday and $225 million the day before. Inflow demand had peaked at $227 million on July 20, before reversing, and BlackRock’s IBIT drove most of the selling, accounting for just under $415 million of the two day outflow.

Even with the reversal, the ETFs still finished last week net positive, up almost $34 million, as three strong inflow sessions earlier in the week partially offset the withdrawals. Tim Sun, senior researcher at HashKey, said the pattern suggests institutions made tactical, phased allocations near a temporary price bottom rather than conviction buying.

Sun added that the pullback reflected weakening macro conditions, including renewed U.S.-Iran tensions, oil above $100, and bond markets pricing higher odds of a Fed rate hike later this year. He also noted that U.S. stock funds saw net outflows for a second straight week and bond funds broke a run of inflows, which he said points to broader contraction in asset allocations.

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