There was a net inflow of $90.44 million into spot Bitcoin ETFs in the USA on July 10. According to SoSoValue data, spot Ethereum ETFs also recorded an inflow of $18.43 million on the same day. Bitcoin rose above $64,000 while Ethereum traded at around $1,798.
Most of the inflows came from the BlackRock fund
Nearly all of the day’s Bitcoin ETF inflows were accounted for by BlackRock’s iShares Bitcoin Trust fund. IBIT received $86.83 million in inflows, while VanEck’s HODL fund raised $3.61 million. Thus, total daily inflow reached 90.44 million dollars.
BlackRock is among the world’s largest asset management companies. The company’s Bitcoin ETF product, IBIT, has attracted approximately $60.29 billion in inflows since its launch. The total inflow into VanEck’s HODL fund is 1.14 billion dollars.
Spot Bitcoin ETFs in the US saw total net inflows of $90.44 million on July 10. Spot Ethereum ETFs received $18.43 million inflow in the same session.
The total net asset value of the US spot Bitcoin ETF market increased to $77.42 billion. This size corresponds to approximately 6.05% of Bitcoin’s total market value. The cumulative net inflow since the start of transactions in January 2024 has been $51.28 billion.
| Product | July 10 net entry | Total entry |
|---|---|---|
| IBIT | $86.83 million | $60.29 billion |
| HODL | $3.61 million | $1.14 billion |
| Spot Ethereum ETFs | $18.43 million | Positive closing on the same day |
Limited recovery seen after June exits
The latest data came after the weak picture in June. There was an outflow of approximately $4 billion from regulated Bitcoin funds last month. One of the weakest monthly performances was recorded since the products began trading. At the beginning of July, a positive flow was observed again.
This chart points to selective demand rather than a strong, broad-based influx spreading into the market. The fact that almost the entire total on July 10 was collected in IBIT shows that large investors prefer funds with high transaction volume and competitive costs.
Bitcoin tests the $65,000 threshold
Bitcoin surged above $64,000 and approached three-week highs, supported by a weakening dollar and falling oil prices. Lower crude oil prices have eased concerns about inflationary pressure in the short term. This opened some space for risky assets. Despite this, the $65,000 region is viewed as strong resistance.
On the Ethereum side, entries were more limited. Most of the $18.43 million added to spot Ethereum ETFs went to BlackRock’s ETHA fund. Fidelity’s FETH fund also received smaller inflows.
For Bitcoin’s recovery to become permanent, stronger spot demand must be seen above $65,000.
Short-term investor costs may create selling pressure
On-chain data shows that investors who hold Bitcoin for one to six months are still at a loss, on average. The realized cost of the newest receivers is around $61,600, while the cost of the three- to six-month-old group reaches around $74,900.
This difference may create new selling pressure in case of price increases. Investors, especially those who bought around $70,000, can be expected to evaluate the recovery to reduce their losses. Breaking above $71,000 could improve the technical outlook; More intense supply may be seen in the range between 73,200 and 77,500 dollars.
Analyst Axel Adler Jr. states that the buying pressure among short-term investors has recently exceeded the selling pressure. According to Adler, in June and July the buying score varied between 37% and 46%, while the selling pressure remained at about 16%. On the other hand, it is considered that older investors are positioned to sell at high prices.
