BlackRock’s IBIT Added $209M — Is Bitcoin Rally Sustainable?

On July 6 U.S. spot Bitcoin exchange-traded funds recorded $265.7 million of net inflows. BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $209.4 million of that total. Grayscale’s legacy GBTC posted $44.5 million of outflows the same day, while Grayscale’s lower-fee Bitcoin product added about $42.3 million.

IBIT’s net assets were about $46.5 billion on July 6. A $209.4 million daily inflow represented a small fraction of the fund’s size.

Following the flows, Bitcoin traded in the low-$63,000 range, with a market capitalization around $1.26 trillion and a one-week gain near 6 percent.

ETF flow data are a public measure of institutional demand and liquidity for Bitcoin because funds receive and deploy capital on exchanges. Market participants will watch daily flow reports to see whether positive inflows continue across multiple issuers.

The July 6 inflows were concentrated in IBIT while other funds showed mixed results and some legacy trust products continued to experience redemptions. Subsequent daily reports will indicate whether inflows broaden across issuers and whether outflows from older products ease.