U.S. spot Bitcoin exchange-traded funds attracted a net $221.72 million on July 2, extending the streak of institutional capital inflows even as Bitcoin consolidates near the $61,000 level. The persistent demand suggests many investors are accumulating rather than reducing exposure.
FBTC Leads, IBIT Sees Rare Outflow
According to SoSoValue, Fidelity's FBTC recorded the day's largest inflow at $165.96 million, followed by ARK 21Shares' ARKB with $91.84 million. Meanwhile, BlackRock's IBIT posted $40.43 million in net outflows, though it remains the largest spot Bitcoin ETF with roughly $44.91 billion in assets under management. Grayscale's GBTC saw zero flows for the day, but its cumulative outflows since conversion have surpassed $27 billion.
Cumulative Net Investment Surpasses $51 Billion
The latest figures pushed cumulative net investments across all U.S. spot Bitcoin ETFs to $51.08 billion. Total net assets rose to $74.37 billion, representing about 6.02% of Bitcoin's total market capitalization. Daily trading volume reached $2.13 billion. The steady inflow underscores that institutional confidence remains intact amid market consolidation.
Technical Levels: $62,217 Is Key Resistance
TradingView data shows Bitcoin trading near $61,578, just below the middle Bollinger Band at approximately $62,217. That level serves as immediate resistance — a sustained breakout above it could strengthen bullish momentum and bring the upper band near $66,798 into play. On the downside, the lower band around $57,636 remains the most critical support; holding above it would preserve the current consolidation range.
Momentum indicators are improving. The Relative Strength Index climbed to 44.24 after recovering from oversold conditions. Although still below the neutral 50 mark, the reading suggests buying pressure is gradually building. The market now watches whether Bitcoin can reclaim the $62,217 resistance supported by steady ETF demand and the $61,000 floor.