US spot Bitcoin ETFs reversed course after 10 straight trading days of net outflows. Data from SoSoValue showed the group brought in $221.7 million on Thursday, snapping a withdrawal streak that had drained $2.7 billion. June was still the weakest month on record for these products, with about $4.5 billion in net redemptions.
FBTC and ARKB drove the turnaround
Fidelity’s FBTC led the daily inflow table with $166 million. ARKB followed with $91.8 million, and VanEck’s HODL added $4.4 million. BlackRock’s IBIT moved the other way, posting $40.4 million in net outflows and extending the softer pattern seen since mid-June.
Andri Fauzan Adziima, head of research at Bitrue Research Institute, said a more dovish tone from the Federal Reserve improved broad market sentiment. In his view, that shift supported flows into Bitcoin ETFs and helped Bitcoin climb back above $61,000.
Weaker US data lifted risk appetite
The change in fund flows came alongside softer US economic readings. June nonfarm payrolls rose by only 57,000, well below the market consensus of around 110,000. That miss eased some concern that additional rate hikes would remain on the table.
Signals from the Federal Reserve also reduced pressure on higher-risk assets. Analysts said a weaker US dollar and changes in real yields temporarily cut selling pressure on Bitcoin, an asset that does not generate yield. The response was quick.
Spot Ethereum ETFs also recorded inflows
Adziima said similar improvement has started to appear in spot Ethereum ETFs. SoSoValue data showed spot Ethereum ETFs recorded $14.9 million in net inflows on Wednesday and $29.1 million on Thursday.
Tim Sun, senior researcher at HashKey, linked the recent activity to limited changes in rate expectations. He said earlier outflows were driven by fears of more rate hikes, while weaker jobs data has softened those expectations to some extent.
Short-term rebound, but caution remains
Even with the rebound in flows and price, market participants are not calling a durable reversal. Sun said the current move should be viewed as a short-term bounce tied to easing rate pressure. Near-term Bitcoin direction, he added, is still likely to track the US dollar, real yields, and future Federal Reserve decisions.
Stephen Wundke, director of strategy and revenue at Algoz Technologies, said the latest rise was driven by investors buying assets that had been pushed into oversold territory. After a period of safe-haven positioning, some investors are now watching for possible bottom levels. He still expects Bitcoin to remain volatile and to keep testing lower areas in the coming weeks.