Bitcoin spot ETFs see $424 million outflow, reversing prior week's gains

Jul 14, 2026

US spot Bitcoin ETFs saw a significant $424.7 million net outflow on July 13, reversing the prior week's $197.4 million inflow and erasing hopes of a sustained recovery. The withdrawal, driven by large redemptions from BlackRock's IBIT and Fidelity's FBTC, highlights fragile institutional demand after an eight-week losing streak. With trading volumes down 78% from their peak, the reversal casts doubt on whether the market has found a bottom.

July 13 outflow reversal

▪The July 13 outflow reversed the previous week's net inflow of $197.4 million.
▪On July 14, 2026, the ETFs saw a rebound with approximately $181 million in inflows.
▪The prior week's inflow had briefly ended an eight-week streak of withdrawals.
▪US-listed spot Bitcoin ETFs recorded net outflows of approximately $424.7 million on July 13, 2026.
▪June 2026 marked the largest monthly net outflow in the history of Bitcoin ETFs, with investors pulling $4.51 billion.

IBIT withdrawal pattern

▪On July 14, 2026, BlackRock's IBIT led a rebound by pulling in roughly $139 million.
▪From July 6 to July 10, BlackRock's IBIT had attracted $291.9 million in inflows, exceeding the industry's total for that week.
▪BlackRock's IBIT fund recorded outflows between $185.5 million and $186.1 million on July 13, 2026.

FBTC withdrawal pattern

▪During the period of July 6 to July 10, Fidelity's FBTC had posted $93.4 million in outflows.
▪On July 14, 2026, Fidelity's FBTC added about $21 million in inflows.
▪Fidelity's FBTC fund led the July 13 withdrawals with outflows between $245.6 million and $246.3 million.

Single-fund demand concentration

▪Grayscale's GBTC fund recorded $53.1 million in outflows on July 13, 2026.
▪The previous week's positive total was driven more by a single fund, IBIT, than by a broad rebound in ETF demand.
▪The 30-day moving average of daily trading volume for US spot Bitcoin ETFs has fallen 78% from its peak to $1.25 billion.

Week-ahead recovery requirements

▪Market observers are divided on whether Bitcoin's downturn is nearing an end or if more losses are ahead.
▪Analysts suggest a broad rebound across several issuers would provide stronger evidence that demand is recovering.
▪To match the previous week's $197.4 million net inflow, the funds would need to bring in $622.1 million over the rest of the week.