BlackRock’s IBIT drove 90% of $225M Bitcoin ETF outflows

On July 23 U.S. spot Bitcoin ETFs recorded $225 million in net outflows. BlackRock’s iShares Bitcoin Trust posted a $202.5 million net redemption, roughly 90% of the sector’s outflow, ending a seven-session inflow run.

Five other spot Bitcoin funds recorded combined outflows of $27.6 million, while Grayscale’s GBTC had about $5 million in net inflows. The net contribution from funds outside IBIT was about a $22.6 million outflow for the day.

From July 14 through July 22 the group recorded $999.3 million in inflows. The July 23 withdrawals reduced roughly 22.5% of that total, leaving the eight-session window net positive by about $774.2 million.

BlackRock reported IBIT’s net asset value fell 1.63% on July 23. The CME CF Bitcoin Reference Rate closed the session at $64,768, and Bitcoin traded below $65,000 during the day.

Fund flow figures are reported after the market close and reflect creations and redemptions of large share baskets by authorized participants, not direct sales of Bitcoin by ETF issuers. Reported flows can reflect investor positions established at different times during the trading day.

Subsequent finalized flow reports will show whether net outflows continue or inflows resume in sessions following July 23.