Six-Day Inflow Streak Pushes Bitcoin ETFs Near $1B Mark

Spot Bitcoin ETFs pulled in $226.8 million on July 20, closing a five-day inflow streak that reached $723 million, led by BlackRock’s IBIT, Fidelity’s FBTC, and ARK’s ARKB.

Flows remained strong the next day, with U.S. spot Bitcoin ETFs adding $206 million on July 21, according to CoinGlass. This marked six straight days of inflows, taking the total above $900 million—the longest uninterrupted streak since May.

The inflow run coincided with Bitcoin briefly reclaiming the $66,000 level before slipping back, while overall market sentiment shifted from bearish to neutral for the first time in weeks.

This trend goes beyond a short-term recovery. It reflects a renewed wave of institutional engagement following one of the most severe periods of ETF outflows since their launch in January 2024.

The key focus now is not whether June’s selling pressure has ended, but whether the current inflow pace can sustainably influence the medium-term supply-demand balance.

The shift began after a 10-day stretch of outflows in late June that saw more than $2.7 billion exit the ETF complex. The reversal started on July 2, when a single session brought in $221.7 million.

Fidelity’s FBTC and ARK’s ARKB led that session, while BlackRock’s IBIT recorded a rare outflow of roughly $40 million before rebounding in the following days.

Momentum quickly built. By July 6, inflows climbed to $265.7 million, with IBIT alone contributing around $209 million—signaling a rotation in leadership that continued across subsequent sessions.

After a brief pause, inflows resumed between July 14 and 17, posting $181 million and $108 million in daily totals, before culminating in the $226.8 million recorded on July 20. Over the two-week span, total inflows reached about $273 million, marking a second consecutive week of net gains.

Across this period, IBIT, FBTC, and ARKB consistently drove inflows, with leadership rotating among issuers—indicating that demand is broad-based across institutional investors rather than concentrated in a single fund.

Regulatory developments have also supported sentiment. In the U.S., the White House resolved an ethics dispute that had stalled the CLARITY Act, a bipartisan bill designed to define regulatory roles between the SEC and CFTC.

This breakthrough improves the chances of Senate progress before the August recess, reducing a key layer of uncertainty that had weighed on institutional positioning.

Meanwhile, Russia’s State Duma approved a sweeping crypto law on July 21, formally recognizing digital assets as property, introducing trading and custody frameworks under the Bank of Russia, enabling cross-border settlements, and banning domestic crypto payments.

The law will take effect on September 1, 2026, with some provisions phased in over time. Non-qualified retail investors will face an annual cap of 300,000 rubles (around $3,800), while qualified investors will remain uncapped but subject to risk assessments.

On-chain data from CryptoQuant adds further context, showing that wallets holding between 1,000 and 10,000 BTC accelerated accumulation after Bitcoin dropped below $55,000 earlier in July. Total whale accumulation exceeded 66,700 BTC, valued at roughly $4.4 billion.

CryptoQuant noted that buying activity picked up sharply after the sub-$55,000 level, consistent with historical accumulation patterns among large holders.

At the same time, Strategy raised $500 million through a convertible notes offering while leaving its Bitcoin holdings unchanged—signaling balance sheet strengthening without adding immediate selling pressure to the market.