Crypto ETFs Extend Outflow Streak as IBIT Sheds $54.83M

Key Insights

• Crypto ETFs faced fresh pressure as Bitcoin funds posted $49.75 million in net outflows.
• BlackRock’s IBIT produced the session’s only gross outflow, shedding $54.83 million.
• Cumulative net inflows stood at $51.32 billion, while net assets reached $77.23 billion.

Bitcoin funds dragged crypto ETFs lower again on July 28, recording $49.75 million in net outflows, according to SoSoValue data.

The redemptions remained modest compared with the $240.08 million withdrawn on July 24. However, they extended the negative run to four consecutive trading sessions.

The latest selling was concentrated in one product. Most issuers reported no net activity, while daily traded value remained near $1.40 billion.

Bitcoin ETFs remain the largest segment of U.S. spot crypto ETFs. Their flows therefore continue shaping sentiment across the wider digital-asset fund market.

The current run began on July 23, when $225.18 million left the Bitcoin funds. Another $240.08 million followed on July 24, then $11.64 million on July 27 and $49.75 million on July 28.

Across the four sessions, a combined $526.65 million has moved out. The two biggest prints came at the start, and the last two sessions were far milder, which looks more like fading sell pressure.

That stretch stands out against the middle of the month. Between July 14 and July 22, the same funds booked seven straight positive sessions worth $999.38 million combined, with July 20 and July 21 alone pulling in $226.92 million and $203.14 million.

In under a week, crypto ETFs tracking Bitcoin went from steady accumulation to a steady bleed.

The July 28 outflow came from a single product. BlackRock’s IBIT shed $54.83 million, roughly 860 BTC, and no other fund recorded outflows on the day.

The Grayscale Bitcoin Mini Trust sat on the other side of the ledger and took in $5.08 million, or close to 80 BTC, and has now gathered $2.65 billion since launch.

Everything else stayed idle. Fidelity’s FBTC, Grayscale’s GBTC, Bitwise’s BITB, and the Ark and 21Shares ARKB all printed zero net flows, along with the smaller funds from VanEck, Morgan Stanley, Valkyrie, Franklin, Invesco, and WisdomTree.

IBIT remains the anchor of the group. Its $60.33 billion in cumulative net inflows exceeds the $51.32 billion total for the whole category, a gap created by the $27.42 billion that has left GBTC since its conversion from a closed-end trust.

The weekly picture for crypto ETFs flipped along with the daily one. The week through July 28 shows $61.40 million in net outflows after two positive weeks of $33.79 million and $75.67 million.

Early July ran hotter. The week through July 10 drew $197.40 million, though the month opened right after a $526.64 million weekly outflow recorded on July 2.

Total net assets tell a similar story. The funds held $77.23 billion on July 28, down from $78.71 billion a day earlier and off the July 21 peak of $80.94 billion.

Part of that drop comes from redemptions and part from softer Bitcoin prices, since asset values move with the spot market. Cumulative net inflows, at $51.32 billion, remain within about $530 million of the July 22 high of $51.85 billion.

The next indicator will be whether IBIT redemptions spread to Fidelity, Bitwise and other large issuers.

Broader outflows would indicate that several investors were reducing Bitcoin exposure rather than one fund experiencing isolated redemptions.

Another factor will be whether buyers return after the four-day decline.

Bitcoin ETFs recovered quickly from a $424.66 million outflow on July 13. That session was followed by the strongest consecutive inflow period of the month.

The funds attracted approximately $999 million during the seven sessions that followed.

A return to positive flows would indicate that the latest redemptions represented temporary profit-taking or portfolio adjustments.

Continued withdrawals into the final July sessions would weaken that interpretation and confirm a broader reduction in institutional exposure.

Crypto ETFs entered July 29 with $51.32 billion in cumulative net inflows and $77.23 billion in net assets.

The longer-term capital base remained intact. However, the four-day outflow streak must end before the market can confirm renewed institutional accumulation.

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