Blackrock Drives $32M Bitcoin ETF Rebound After 4-Day Slide

Bitcoin ETFs ended a four-day losing streak on Wednesday, July 29, with $32.11 million in net inflows, driven by strong demand for Blackrock’s IBIT. The recovery came as Solana funds also rebounded from a heavy loss the previous day, while ether and HYPE ETFs moved deeper into negative territory.

Blackrock’s IBIT led the bitcoin ETF recovery with an $89.83 million inflow, absorbing a $43.08 million withdrawal from Fidelity’s FBTC and a $14.64 million exit from ARK 21Shares’ ARKB. Total bitcoin ETF trading value reached $1.88 billion, and combined net assets closed at $77.46 billion.

Ether ETFs recorded a more divided session. Morgan Stanley’s newly launched staking fund, MSSE, attracted $14.30 million, and Blackrock’s ETHA added $5.16 million. However, these gains were outweighed by selling across five products. Fidelity’s FETH lost $16.07 million, Grayscale’s ETHE and Ether Mini Trust posted outflows of $9.74 million and $8.09 million, respectively, and smaller outflows were seen from 21Shares’ TETH ($2.85 million) and Bitwise’s ETHW ($1.36 million). The category ended with an $18.65 million net outflow. Ether ETF trading value totaled $563.79 million, with net assets at $10.37 billion.

Solana ETFs attracted $19.06 million, reversing the previous session’s $18.07 million withdrawal. All of the new capital went to Morgan Stanley’s MSOL, a staking-enabled solana ETF. Total trading value reached $60.21 million, and net assets rose to $862.98 million. Demand for Morgan Stanley’s staking products has been notable, with MSSE drawing $19.45 million over two days and MSOL delivering $19 million on its first inflow day, indicating investor interest in products combining token exposure with staking income.

XRP ETFs returned to positive territory with a modest gain. Franklin Templeton’s XRPZ attracted $584,710, lifting total category assets to $988.70 million. Trading value reached $10.35 million. HYPE ETFs remained under pressure, with Bitwise’s BHYP recording an $8.78 million outflow, marking the category’s fifth consecutive losing session. HYPE ETF trading value was $6.92 million, and net assets fell to $252.38 million.

The latest flows point to a market that is still willing to take crypto risk, but with growing selectivity. Bitcoin regained support, Solana rebounded, and staking products drew interest. Ether and HYPE, however, faced another round of redemptions.

Source: https://news.bitcoin.com/bitcoin-etf/blackrock-drives-32m-bitcoin-etf-rebound-after-4-day-slide/