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Bitcoin ETFs Extended Their Winning Streak. The Last Two Days Nearly Erased It

By Isaac • July 27, 2026 9:46 pm • Comments

U.S. spot Bitcoin ETFs extended their weekly winning streak to three. They escaped the latest week with only $33.79 million left on the positive side.

The narrow gain survived a sharp reversal on Thursday and Friday, when the funds recorded a combined $465.26 million in net outflows. Nearly all the money that entered during the first three sessions was offset before the closing bell on Friday.

That leaves two valid streaks pointing in opposite directions. The ETFs have posted three positive weeks in a row, while their seven-session run of daily inflows ended on July 23.

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Farside Investors recorded a strong start to the week in its daily U.S. spot Bitcoin ETF table. The group posted rounded net inflows of $226.8 million on July 20, $203.2 million on July 21, and $69.1 million on July 22.

Those three sessions added roughly $499.1 million using Farside’s one-decimal figures. The run looked sturdy enough heading into Thursday, with money spread across several products and BlackRock’s IBIT supplying the largest contribution on each of the first three days.

Thursday changed the shape of the week. The funds lost a net $225.1 million, ending the seven-day daily inflow streak that had begun on July 14.

Friday followed with another $240.1 million in net outflows. Farside’s table showed no fund with a positive flow that day; IBIT lost $212.2 million and Fidelity’s FBTC lost $27.9 million, while every other listed product was flat.

IBIT also accounted for $202.5 million of Thursday’s outflow. Across the two sessions, the largest spot Bitcoin ETF posted $414.7 million in net redemptions, close to nine-tenths of the group’s late-week reversal.

Those figures describe net creations and redemptions in the ETF shares. They should not be read as a discretionary decision by BlackRock to trade Bitcoin for its own corporate account, and they do not tell us whether every buyer or seller was an institution.

The products package spot Bitcoin exposure for a broad market that includes advisers, funds, trading firms, institutions, and individual investors. Daily flow totals show the balance of money entering and leaving the wrappers; they do not reveal one common motive behind every transaction.

Farside reports its daily values rounded to one decimal place. Adding those displayed figures produces a weekly gain near $33.9 million, while the unrounded weekly total reported from SoSoValue data was $33.79 million.

The rounding difference is small. The more important scale comparison is that roughly half a billion dollars arrived during the first three sessions and about $465 million left during the final two.

Less than 7% of the first three days’ net inflow remained in the final weekly balance. That is how a technically positive week can still finish with a defensive tone.

The week’s early strength was also visible beyond one product. Monday’s positive total survived a $45.4 million GBTC outflow, while ARKB, FBTC, BITB, HODL, MSBT, and Grayscale’s smaller BTC fund all joined IBIT on the positive side.

By Friday, the breadth had disappeared. The table showed money leaving IBIT and FBTC, with the other funds reporting zero net flow rather than offsetting those redemptions.

CoinDesk reported that this was the first three-week inflow streak since early May. It followed eight consecutive weeks of net outflows beginning with the week ended May 15 and running into early July.

The first positive week in the current run brought in about $197 million. The second added roughly $75.67 million, and the latest week’s $33.79 million gain was the smallest of the three.

Together, the three positive weeks added about $306.46 million on a net basis. The $465.26 million that left on Thursday and Friday was larger than that combined three-week gain, underscoring how much early-week inflow was needed to preserve the latest result.

That sequence shows a recovery in weekly flows with less money added each time. It also explains why the label “three-week winning streak” sounds stronger than the latest five-day balance actually was.

Bitcoin traded above $66,500 during the week before finishing below $64,000, according to the report. ETF flows moved with a market that strengthened early and gave back ground later, although the daily data alone cannot establish why every holder entered or exited.

The distinction between daily and weekly records matters here. Thursday ended the consecutive-day streak immediately, but the accumulated inflows from Monday through Wednesday were still large enough to keep the full week above zero after Friday’s close.

The late-week pressure was also unusually concentrated. IBIT supplied most of the outflow, while Morgan Stanley’s MSBT was the only product with a positive figure on Thursday at $5 million in Farside’s table.

Concentration can make the headline total swing quickly when the largest fund changes direction. It does not establish that all IBIT shareholders behaved alike or that the redemption came from one class of investor.

Three positive weeks are still a meaningful break from the eight-week outflow stretch that preceded them. The shrinking weekly totals and the two-day reversal show how fragile that improvement remains.

ETF flow data is best read as a current demand gauge, not a forecast. A positive weekly total can coexist with a weak finish, and a large redemption can be followed by new creations in the next session without either move dictating Bitcoin’s price.

The next weekly tally will answer a cleaner question than the streak label does now: whether buyers rebuild after the $465.26 million reversal or whether the third positive week marked the point where July’s ETF recovery ran out of momentum.

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