Bitcoin ETF Inflows Hit $1.1 Billion In One Week As BlackRock Adds 12,400 BTC


Wall Street just rewrote its weekly flow sheet and Bitcoin led the tape. Spot BTC ETFs pulled in $1.12 billion net this week ending July 17, the third biggest week since launch, with BlackRock IBIT alone adding 12,400 BTC worth $820 million. Fidelity added $210 million, while Grayscale outflows slowed to just $18 million. Total ETF BTC holdings now sit at 1.14 million BTC, or 5.4% of supply.
This surge was not pure hype. Basis trade was the engine. CME BTC futures open interest hit $14.2 billion with annualized basis at 11.8%, so hedge funds long ETF and short futures lock almost 12% yield. On chain data shows ETF wallets received coins from OTC desks that saw exchange balances fall 8,200 BTC, a clear supply squeeze sign. Coinbase Prime moved $1.8 billion of BTC to custody wallets for ETF creation in two days.
Price action followed flow. BTC rose 6.4% to $118,200 while funding stayed tame at 0.008% per 8h, so spot drove the move, not leverage. Options flow saw heavy call buying for $125k August expiry with $240 million premium.
Risk lives in basis unwind. If funding drops to 4%, that 12% arb fades and inflows could cool. Also a single large GBTC sale could flip daily net.
For traders, this was a pure demand shock with low leverage. When $1.1 billion of real bid hits in five days and supply on venue falls, upside skew holds.
#Bitcoin #ETF #BlackRock #BTC #CryptoFlows
BTC-2.60%
GBTC-1.68%
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Bitcoin ETF Inflows Hit $1.1 Billion In One Week As BlackRock Adds 12,400 BTC
Wall Street just rewrote its weekly flow sheet and Bitcoin led the tape. Spot BTC ETFs pulled in $1.12 billion net this week ending July 17, the third biggest week since launch, with BlackRock IBIT alone adding 12,400 BTC worth $820 million. Fidelity added $210 million, while Grayscale outflows slowed to just $18 million. Total ETF BTC holdings now sit at 1.14 million BTC, or 5.4% of supply.

This surge was not pure hype. Basis trade was the engine. CME BTC futures open interest hit $14.2 billion with annualized basis at 11.8%, so hedge funds long ETF and short futures lock almost 12% yield. On chain data shows ETF wallets received coins from OTC desks that saw exchange balances fall 8,200 BTC, a clear supply squeeze sign. Coinbase Prime moved $1.8 billion of BTC to custody wallets for ETF creation in two days.

Price action followed flow. BTC rose 6.4% to $118,200 while funding stayed tame at 0.008% per 8h, so spot drove the move, not leverage. Options flow saw heavy call buying for $125k August expiry with $240 million premium.

Risk lives in basis unwind. If funding drops to 4%, that 12% arb fades and inflows could cool. Also a single large GBTC sale could flip daily net.

For traders, this was a pure demand shock with low leverage. When $1.1 billion of real bid hits in five days and supply on venue falls, upside skew holds.

#Bitcoin #ETF #BlackRock #BTC #CryptoFlows
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