US spot Bitcoin ETFs pulled in $90.4 million in net inflows on July 10, while their Ethereum counterparts added $18.4 million. That translates to roughly 1,791 BTC and 10,550 ETH worth of fresh capital flowing into regulated crypto investment products in a single day.
The recovery after a record-breaking exodus
June 2026 set an unwelcome record: approximately $4 billion in net outflows from US spot Bitcoin ETFs. That’s the largest monthly withdrawal since these products launched in January 2024.
A 10-day consecutive outflow streak from Bitcoin ETFs finally snapped on July 2, after hemorrhaging a cumulative $2.73 billion during that stretch alone.
Earlier in the month, Bitcoin ETFs recorded a single-day inflow of $265.7 million, driven primarily by BlackRock’s IBIT. The $90.4 million on July 10 is more subdued, but it reinforces the narrative that capital is rotating back in rather than continuing to flee.
Who’s winning the ETF fee war
BlackRock’s IBIT and Fidelity’s FBTC continue to dominate inflows on the Bitcoin side. On the Ethereum front, BlackRock’s ETHA and Fidelity’s FETH have carved out similar positions.
Grayscale’s higher-fee products have faced persistent outflows as investors migrate to cheaper alternatives. Grayscale’s Bitcoin Trust, which converted from a closed-end fund, carried significantly higher fees than competitors who entered the market with aggressive pricing, resulting in a steady asset transfer from Grayscale to BlackRock and Fidelity.
Since spot Bitcoin ETFs launched in January 2024, total net inflows have surpassed $50 billion, reaching approximately $51.3 billion by July 2026.
Macro backdrop and what’s driving sentiment
Bitcoin prices have been hovering between $56,000 and $64,000 in early July. Easing inflation expectations have provided some tailwinds for risk assets broadly, and crypto ETFs appear to be catching that breeze.
The $18.4 million flowing into Ethereum ETFs is notable because Ethereum ETFs have historically struggled to match Bitcoin’s momentum in attracting capital. The fact that both products are seeing positive flows simultaneously suggests the recovery isn’t limited to Bitcoin; it’s a broader re-engagement with crypto as an asset class.
What this means for investors
For investors watching the competitive landscape, the continued dominance of BlackRock and Fidelity products is worth tracking. The earlier $265.7 million inflow day in July shows the capacity for larger moves when conditions align.
A $4 billion monthly outflow in June demonstrates how quickly sentiment can reverse. With Bitcoin trading between $56,000 and $64,000, investors should watch whether the July inflow trend accelerates or fizzles. If daily inflows consistently stay positive and gradually increase, it would mark a meaningful shift in the institutional positioning that drove the June selloff.
Source: Original Article
