Market Overview: 10-Day Consecutive Outflows Accelerate
Data from SoSoValue shows that on July 1 (Eastern Time), Bitcoin spot ETFs posted a net outflow of $295 million, extending the losing streak to ten consecutive trading days. Despite isolated inflows from certain products, the dominant outflows from heavyweight ETFs drove the overall negative trend.
Inflows: Grayscale and Morgan Stanley Buck the Trend
The best-performing fund on the day was Grayscale Bitcoin Mini Trust (ticker: BTC), which attracted $36.33 million in net inflows, bringing its historical cumulative total to $2.398 billion. The runner-up was Morgan Stanley ETF MSBT, with $29.81 million in net inflows, lifting its lifetime total to $364 million. These two products were among the few bright spots in an otherwise gloomy session.
Outflow Champion: BlackRock IBIT Bleeds $219 Million
On the outflow side, BlackRock's IBIT suffered the heaviest hit, losing $219 million in a single day — nearly double the previous day's pace. Although IBIT's cumulative net inflows remain robust at $60.034 billion, the persistent sell‑off is eroding its asset base.
Key Metrics and Industry Implications
As of press time, the total net asset value of Bitcoin spot ETFs has slipped to $72.46 billion, with the net asset ratio (ETF market cap relative to Bitcoin's total market cap) at 6.01%. Despite the recent streak of outflows, the cumulative net inflow since launch still stands at an impressive $50.858 billion, suggesting that long-term capital commitments remain intact. Analysts attribute the latest withdrawals to macroeconomic uncertainties in the U.S. and profit-taking by short-term traders. Market participants will watch closely for signs of stabilization in fund flows at key price levels.