US spot bitcoin ETFs recorded $221.7 million in net inflows on Thursday, July 2, their largest single-day intake in two months, according to data tracker SoSoValue. The buying ends a 10-day outflow streak that pulled $2.73 billion from the funds and helped drive bitcoin to 21-month lows under $58,000 earlier in the week. Fidelity’s FBTC brought in $165.96 million, ARK Invest’s ARKB added $91.84 million, and VanEck’s HODL collected $4.35 million. BlackRock’s IBIT, the largest bitcoin fund in the world, moved the other way and shed $40.43 million.
A spot bitcoin ETF is a fund that holds bitcoin directly and trades on a stock exchange, giving investors price exposure without managing wallets or custody. Flows in and out of these funds are the cleanest public read on institutional demand for the asset.
Key takeaways
- Spot bitcoin ETFs took in $221.7 million on July 2, their largest daily inflow in two months, snapping a 10-day streak that drained $2.73 billion, per SoSoValue.
- Fidelity’s FBTC led with $165.96 million. BlackRock’s IBIT, the biggest fund, lost another $40.43 million.
- Bitcoin traded near $62,000 on Friday, its strongest level in two weeks, after a squeeze wiped out $281 million in positions held against crypto.
- Year-to-date net outflows still total about $5.4 billion. One green day does not reverse the 2026 trend.
Published: July 3, 2026, 09:30 UTC
Fidelity led the buying while BlackRock kept selling
Fidelity’s FBTC accounted for roughly three quarters of Thursday’s net total with $165.96 million in new money. Strip out IBIT’s outflow and the remaining funds collectively added about $262 million, the strongest gross buying since early May, according to CoinDesk.
IBIT’s continued outflow on the sector’s best day in two months is the detail worth watching. When the largest fund sells while smaller rivals buy, the rebound rests on a narrower base than the headline number suggests.
Why one green day matters after bitcoin ETFs’ brutal June
June was the worst month on record for the products, with a record $4 billion pulled from spot bitcoin ETFs. Year-to-date net outflows still sit at roughly $5.4 billion.
Against that backdrop, Thursday’s $221.7 million is small. It matters because of what it confirms: bitcoin’s rebound to around $61,700 from 21-month lows now has real money behind it, not just repositioning by traders. Steady ETF inflows have accompanied every sustained bitcoin rally since the funds launched in January 2024. A single session proves little on its own, and analysts tracking the data say flows need to run positive for weeks before they signal a durable recovery.
A short squeeze and soft jobs data set the stage
The inflow landed in the middle of crypto’s first strong week since mid-June, with bitcoin pushing toward $62,000 on Friday. A short squeeze happens when rising prices force traders who bet against an asset to buy it back, and that buying pushes the price higher still.
Traders positioned against crypto lost $281 million to liquidations in 24 hours, against $159 million in longs, out of $440 million in total forced closures across 95,690 traders, according to Coinglass. The single largest wipeout was an $18.2 million ether position on derivatives exchange Hyperliquid.
Ether rose 4.2% in 24 hours to about $1,702 and is up 9.7% on the week. Solana gained 18.6% for the week, the strongest of the majors, and traded near $80. XRP added 5.7% to $1.09.
Macro did its part. Thursday’s June US employment report came in weaker than expected, trimming bets that the Federal Reserve will raise rates again and weakening the dollar. The print extended the relief that began when Fed chair Kevin Warsh said inflation risks had eased, the remarks that first carried bitcoin back above $60,000 this week.
What comes next
The open question is whether the flip becomes a trend. Forced short-covering produces fast moves, not durable demand, and the third quarter opens with thinner liquidity that can exaggerate swings in either direction.
Watch whether FBTC and ARKB keep printing inflows into next week, and whether IBIT’s selling stops. Until then, the $5.4 billion year-to-date hole is the number that still defines 2026 for bitcoin ETFs.
Frequently asked questions
How much money went into bitcoin ETFs on July 2?
US spot bitcoin ETFs recorded $221.7 million in net inflows, their largest daily total in two months, according to SoSoValue. Fidelity’s FBTC led with $165.96 million, while BlackRock’s IBIT recorded a $40.43 million outflow, the only major fund to lose money on the day.
Are bitcoin ETFs still losing money in 2026?
Yes. Year-to-date net outflows total about $5.4 billion even after the July 2 inflow, and June was the worst month on record with $4 billion in withdrawals. Analysts say inflows must persist for weeks before they signal a real shift in institutional demand.
Why did bitcoin rise toward $62,000 this week?
A short squeeze forced traders betting against crypto to close $281 million in positions within 24 hours, and a weaker June US jobs report reduced expectations of further Federal Reserve rate hikes. Together they pushed bitcoin to its strongest level in two weeks.
