Bitcoin and Solana ETFs draw $271M as institutional flows return

Bitcoin rose 3.2% to $64,183 on July 7 as spot ETFs drew $265.7 million, snapping a weeks-long outflow streak.

"Renewed inflows into Bitcoin and Solana ETFs suggest potential market stabilization and increased investor confidence in crypto assets," analysts at research firm BIT said.

BlackRock's iShares Bitcoin Trust captured $209.4 million — its first positive session following extended outflow periods — while Fidelity's FBTC, ARK 21Shares' ARKB and Grayscale's Mini ETF contributed additional inflows, SoSoValue data show. Grayscale's GBTC diverged with $44.5 million in redemptions. Solana ETFs added $5.75 million, contrasting with $527 million in Bitcoin ETF outflows the prior week.

The reversal comes after Strategy sold 3,588 Bitcoin for $216 million, its largest single disposal, briefly pushing the token toward $61,000 before buyers stepped in. The Federal Reserve's June meeting minutes due Wednesday will offer the next macro catalyst, with fed funds futures pricing a 75.6% probability that rates remain at 3.50% to 3.75% through July.

Strategy's Record Sale Tests Buyer Conviction

Strategy executed the sale in two tranches, liquidating 1,363 BTC during June 29-30 for $80.8 million at an average price of $59,256, followed by 2,225 BTC between July 1-5 for $135.2 million at $60,773 each, according to a Securities and Exchange Commission disclosure. Proceeds were allocated toward preferred shareholder dividends and operational cash reserves.

The sale triggered roughly $456 million in futures liquidations across a concentrated four-hour window after the filing emerged, Coinglass data show. Despite the volatility, Bitcoin's funding rate remained positive and open interest hovered around $20.6 billion, indicating leveraged long positions stayed concentrated.

Bitcoin's network activity reached a 17-year high, averaging 673,822 transactions per day — nearly double the volume from a year earlier, according to data from HIVE Digital Technologies. The surge was driven by small transactions and applications such as Bitcoin NFTs and timestamping.

Solana Bucks the Trend With $5.75M in ETF Inflows

Solana declined 1.7% to $80.34, mirroring Bitcoin's broader move, but its ETF flows diverged sharply. Spot Solana products captured $5.75 million in net inflows while Bitcoin ETFs bled $527 million the prior week. The network surpassed 1 billion non-vote transactions in a single week for the first time, SolanaFloor data show. Active wallet addresses jumped 76.8% to 29.7 million over a 14-day period.

This article is for informational purposes only and does not constitute investment advice.