Vertical Inflows Return to Bitcoin ETFs As Price Surges, but Recent Daily Outflows Raise a Flag

Bitcoin ETF holdings surged to 600,000 BTC, aligning with the asset’s price jump to $119,000.

Despite strong cumulative growth, a net outflow of $85.96 million was recorded on July 23, 2025.

BlackRock’s IBIT led daily inflows, while Fidelity’s FBTC saw the largest outflow at $227.24 million.

Bitcoin exchange-traded fund (ETF) flows have surged again, adding pressure to the asset’s upward price movement. As of late July 2025, cumulative inflows reached 600,000 BTC, marking a significant increase in institutional activity. This jump coincides with Bitcoin’s price rising to $119,000, continuing a pattern that has remained consistent throughout the year.

New Waves of Institutional Demand Appear as Vertical Inflows Align

According to an observation by Ecoinometrics, the year began with BTC priced at $46,000 while ETF flows remained near zero. By March, inflows crossed 200,000 BTC, matching Bitcoin’s climb to $70,000. During the spring months, flows leveled off while prices hovered between $60,000 and $70,000.

Source: X

In October, ETF flows resumed upward momentum as BTC moved past $60,000 again. By December, cumulative inflows surpassed 400,000 BTC, and Bitcoin reached $100,000. In April, inflows slowed briefly, with Bitcoin falling to $85,000.

A fresh surge in ETF inflows emerged after April, leading to 600,000 BTC held by ETFs. Bitcoin’s price quickly followed, reaching $119,000. Chart data shows inflows and price continue to track each other closely.

What is the Bitcoin ETF Current Price Action?

According to a recent SoSoValue update as of July 23, 2025, BTC ETFs recorded a net outflow of $85.96 million across major providers. Despite the daily loss, cumulative total net inflows stood at $54.47 billion. Total net assets held in Bitcoin ETFs reached $153.25 billion, accounting for 6.53% of the asset’s total market capitalization

Source: SoSoValue

BlackRock’s iShares Bitcoin Trust (IBIT) led with a $142.56 million net inflow, bringing its cumulative inflow to $57.12 billion. IBIT now holds $87.26 billion in assets, representing 3.72% of total Bitcoin market share. It also posted a $2.34 billion daily trade volume, with 34.88 million shares exchanged.

Fidelity’s FBTC saw the largest daily outflow, losing $227.24 million. Its total assets remain at $24.22 billion, with cumulative inflows of $12.32 billion. Grayscale’s GBTC posted no net inflow, with total outflows at $23.54 billion and assets at $21.60 billion. Other notable entries include Ark Invest’s ARKB, which experienced a $9.84 million outflow. Its total net assets are valued at $5.83 billion. Valkyrie’s BRRR saw $330.16 million in cumulative inflow and holds $702.84 million in assets.

Franklin’s EZBC and Invesco’s BTCO recorded $274.12 million and $123.23 million in inflows respectively. Both funds have market shares of 0.03%. EZBC traded 48.46K shares daily, while BTCO recorded 35.88K shares. WisdomTree’s BTCW holds $186.32 million in assets with a $40.64 million net inflow. VanEck’s HODL posted no daily inflow and holds $1.93 billion in total assets.