Bitcoin ETFs Break Losing Streak Thanks Entirely To BlackRock

United States spot Bitcoin exchange traded funds finally stopped a four session losing streak on July 29, bringing in $32.1 million in total net inflows. While the positive numbers look encouraging on the surface, a closer look reveals that a single fund carried the entire market. BlackRock brought in $89.8 million into its iShares Bitcoin Trust, which completely masked heavy outflows happening elsewhere in the sector.

Other major products suffered during the exact same session. Fidelity lost $43.1 million from its fund, and the ARK 21Shares product saw $14.6 million walk out the door. Every other listed Bitcoin fund reported flat numbers for the day. Without BlackRock stepping in, the entire sector would have stayed deep in the red.

This single positive day barely puts a dent in the recent damage. The prior four sessions wiped out $526 million in total net outflows, meaning the market is still down nearly $500 million for the week even after factoring in the latest gains. Traders should watch upcoming sessions closely to see if other issuers can attract capital or if BlackRock remains the only pillar holding up institutional demand.