US spot Bitcoin exchange-traded funds (ETFs) posted a net inflow of $221.72 million on Thursday, July 2, 2026 (11 Tir 1405), ending a 10-day streak of outflows totaling $2.7 billion, the largest single-day intake in two months. Bitcoin followed with a 1.74% gain to $62,512 by Saturday, July 4 (13 Tir), moving back above the $62,000 mark. Separately, BlackRock's newly launched staked Ethereum fund pulled in about $100 million on its debut trading day, Friday, July 3 (12 Tir).
Background
From late June through early July 2026, US spot Bitcoin ETFs went through a difficult, pressured stretch: year-to-date net outflows had reached $5.4 billion, reflecting sustained institutional caution through May and June. Analysts including Citigroup cut their 12-month Bitcoin price target to $82,000 during the same period, citing weak summer ETF demand. The July 2 inflow marked the first break in that 10-day downtrend, though on a full-year scale it remains modest: the single day's $221.72 million recovered only about 4% of the year's cumulative outflow.
Key figures
| Item | Figure | Source and date |
|---|
| US Bitcoin ETF net inflow | $221.72 million | CoinDesk and Yahoo Finance, July 2, 2026 (11 Tir) |
| Preceding outflow streak | 10 consecutive days, $2.7 billion | CoinDesk, July 2, 2026 |
| Fidelity's FBTC inflow (same day) | about $166 million | CoinDesk and Yahoo Finance, July 2, 2026 |
| BlackRock's IBIT outflow (same day) | about $40.43 million | CoinDesk and Yahoo Finance, July 2, 2026 |
| 2026 year-to-date Bitcoin ETF outflows | $5.4 billion | Yahoo Finance, July 2, 2026 |
| Total US spot Bitcoin ETF net assets | $74.37 billion | SoSoValue, July 2, 2026 |
| Bitcoin price | $62,512 (+1.74% daily) | TradingKey, July 4, 2026 (13 Tir) |
| BlackRock staked Ethereum fund (ETHB) day-one inflow | about $100 million | KuCoin, July 3, 2026 (12 Tir) |
| Tether (USDT) price on Iranian exchanges | about 175,800 tomans | domestic crypto market, Saturday, 13 Tir 1405 |
Drivers
The Bitcoin ETF inflow reversal coincided with a weaker-than-expected US June jobs report (57,000 new jobs versus roughly 110,000 to 115,000 expected), which lowered market expectations for a Federal Reserve rate hike and boosted appetite for risk assets including cryptocurrencies. Market reports also point to a short squeeze in Bitcoin derivatives markets around the same time, which accelerated the price's upward move. At the fund level, the inflow was concentrated mostly in Fidelity's FBTC, while BlackRock's IBIT, the largest US Bitcoin ETF, still recorded an outflow that same day, a sign that renewed demand has not yet been evenly distributed across funds. In the Ethereum market, BlackRock's newly launched ETHB fund, which unlike older Ethereum ETFs passes the network's staking yield (about 3%) through to investors, stands out as a structural driver independent of day-to-day price swings.
Outlook
Market analysts describe the reversal as a positive but still unconfirmed signal; a single day of inflows after 10 consecutive days of outflows does not establish a durable uptrend, and analysts say inflows would need to continue over several more sessions to validate a genuine recovery. Citigroup's cut to its 12-month Bitcoin price target, to $82,000, in the same period shows some analysts remain cautious about summer ETF demand. Sahmino offers no forecast or recommendation on the future direction of Bitcoin or Ethereum prices and reports only the capital-flow and price data, with sources and dates.
What to watch
In the days and weeks ahead, worth following: whether the Bitcoin ETF inflow continues or reverses in subsequent sessions; the specific behavior of BlackRock's IBIT as the market's largest fund; inflows into the new ETHB fund in its first weeks of trading; and whether Tether's price on Iranian exchanges continues to track global crypto market swings.
Disclaimer
This report is for informational and educational purposes only and does not constitute investment advice. All figures carry a specific as-of date and may have changed since publication; verify information with official, up-to-date sources before making any financial decision.
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