TL;DR
- Bitcoin ETFs: July 1 delivered $296M in net outflows, extending a difficult seven‑session streak driven by heavy IBIT redemptions and steady selling.
- Ethereum ETFs: ETH products posted a $14.8M inflow, with ETHA’s strong $36.6M gain offsetting redemptions in several peers.
- Solana ETFs: BSOL inflows kept Solana slightly positive, but GSOL outflows limited the net result, leaving broader sentiment still anchored to Bitcoin‑led pressure.
U.S. spot crypto funds opened July without the clean reset many investors hoped for. The first session of the month showed that Bitcoin ETFs remained the central pressure point, extending a late-June streak of redemptions and reinforcing a cautious tone across regulated crypto products. The broader market wasn’t entirely one-sided, with Ethereum and Solana ETFs posting modest inflows, but the scale of Bitcoin ETF outflows continued to dominate sentiment.
Bitcoin ETFs extend their losing streak into July
Bitcoin ETFs recorded $296 million in net outflows on July 1, marking yet another negative session in a run that now spans seven consecutive trading days. BlackRock’s IBIT remained the focal point of selling, losing $219.4 million and signaling persistent institutional risk reduction. Fidelity’s FBTC shed $51 million, ARK 21Shares’ ARKB lost $39.9 million, and Grayscale’s GBTC saw $62.8 million in redemptions.
Smaller products attracted pockets of demand, including MSBT with $29.8 million and Grayscale’s lower-fee BTC product with $36.3 million, but those inflows were not enough to counter the broader wave of Bitcoin ETF withdrawals. The cumulative impact since June 23 has been significant. Over seven sessions, Bitcoin ETFs have lost roughly $2.47 billion, with July 1 reinforcing the idea that rotation between funds is not stabilizing the category. Even with scattered inflows, the dominance of IBIT outflows continues to shape the narrative around Bitcoin ETFs.
Ethereum and Solana ETFs show a rare positive session
Ethereum ETFs offered a modest contrast, adding $14.8 million in net inflows. BlackRock’s ETHA led with $36.6 million, helping offset redemptions from Grayscale’s ETH and smaller outflows from ETHB and FETH. The improvement was welcome after repeated late-June selling, though the gains were concentrated in a single product, leaving the category still fragile. Even so, the positive print stood out against the broader weakness in Bitcoin ETFs.
Solana ETFs added $0.5 million, driven by Bitwise’s BSOL with $4 million in inflows. Grayscale’s GSOL lost $3.5 million, keeping the net gain small. The data suggests selective interest in higher-beta exposure, but not at a scale capable of offsetting the drag created by Bitcoin ETFs.
