“U.S. Bitcoin (BTC) spot ETFs broke a five-day streak of inflows on July 2, posting $13.7 million in outflows in what was essentially a bearish day for BTC. 📉

These investment products recorded negative inflows of $13.7 million on July 2, according to Farside Investors. This followed a positive start to the month with capital inflows of $129.5 million on July 1, the highest in nearly a month.

The recent bearish trend was significantly influenced by the disappointing performance of the Grayscale Bitcoin Trust (GBTC). The product alone experienced $32.4 million in outflows yesterday, the largest outflow since June 24th.

Despite the bearish trend, BlackRock's iShares Bitcoin Trust (IBIT) maintained its impressive performance. IBIT saw positive inflows of $14.1 million yesterday, offsetting the zero inflows recorded on July 1."