BlackRock ends ETF drought as Bitcoin flashes fresh rally signal
BlackRock’s iShares Bitcoin Trust (IBIT) snapped a run of subdued activity on July 7, drawing its largest single-day inflow in weeks and helping lift total U.S. spot Bitcoin ETF demand to $265.7 million — a development that added momentum to Bitcoin’s short-term recovery.
Data from Farside Investors shows IBIT pulled in $209.4 million in net inflows on July 7, reversing a period of mixed flows and intermittent outflows. The jump helped push overall U.S. spot Bitcoin ETF inflows to a two-day positive streak. Other funds also showed movement: Fidelity’s FBTC added $9.7 million, Bitwise’s BITB took in $4.8 million, ARK 21Shares’ ARKB added $33 million, and Grayscale’s Bitcoin Mini Trust recorded $42.3 million of inflows. At the same time, Grayscale’s flagship GBTC continued to bleed assets, posting $44.5 million in net outflows, per Farside.
The inflows arrive after a choppy end to June and start to July, when spot ETF flows were often muted or negative. Even after a positive session the prior week, IBIT had previously seen a $40.4 million daily outflow, making Monday’s $209.4 million gain the fund’s clearest sign of renewed demand in several weeks.
Market context and price action
Bitcoin traded in a roughly $61,275–$64,597 range during the day, while 24-hour trading volume surged more than 90% versus the previous day — suggesting heightened participation as prices recovered. Historically, IBIT inflows have coincided with episodes of price support during weaker market stretches, and this latest buying came despite a roughly $216 million Bitcoin sale by software intelligence firm Strategy, indicating ETF demand is continuing to absorb some selling pressure.
BlackRock remains the dominant U.S. spot BTC ETF manager, with cumulative inflows surpassing $60 billion. The firm has also been active beyond ETFs: Ondo Finance last week completed the first live on-chain issuance of tokenized U.S. securities backed by BlackRock’s iShares Core S&P 500 ETF (IVV). According to Ondo, the underlying ETF shares remain held by regulated U.S. custodians while Oasis Pro issues Ethereum-based tokens that are backed one-to-one and structured to align with SEC staff guidance issued in January 2025.
Seasonals, politics and regulation as tailwinds
Market researcher BIT (formerly Matrixport) noted that Bitcoin has entered July with historically favorable seasonal dynamics and said market sentiment has been buoyed by supportive remarks from U.S. President Donald Trump about America’s role in crypto. BIT also flagged the CLARITY Act, which faces an Aug. 7 deadline before the U.S. Senate recess, as a potential near-term legislative catalyst for digital assets.
Technically, BIT placed Bitcoin’s first major resistance around $65,955. With spot Bitcoin ETFs posting back-to-back inflow days after several weeks of weak demand, investors will be watching whether sustained institutional buying can push prices through that level.
Bottom line: BlackRock’s IBIT breaking its inflow drought and stronger overall ETF demand have provided fresh support for Bitcoin’s recovery. Continued ETF buying, regulatory progress on measures like the CLARITY Act, and seasonal tailwinds are likely to shape whether the rally extends toward the $65,955 resistance level.
Read more AI-generated news on: undefined/news
