Bitcoin ETFs just broke a brutal $500M losing streak, but the entire recovery is an illusion propped up by BlackRock
U.S. spot Bitcoin ETFs snapped a four-session losing streak on July 29 and finished the day with $32.1 million in net inflows. However, one fund did all the lifting. BlackRock’s iShares Bitcoin Trust ETF, or IBIT, pulled in $89.8 million, enough to cover the $43.1 million that left Fidelity’s Wise Origin Bitcoin Fund, or FBTC,…