US spot Bitcoin ETFs saw $999 million in inflows over seven consecutive days through July 22, followed by $526 million in outflows over four days. Cumulative net inflows since launch still stood near $51.4 billion. The crypto-backed lending market reached approximately $67 billion in the first quarter of 2026, up nearly 50% year over year. With an initial loan at 50% loan-to-value and an 80% liquidation threshold, a 37.5% decline in Bitcoin price would trigger forced selling, implying a liquidation zone around $39,900 given Bitcoin near $63,889. Structured credit and yield products on Bitcoin remain largely invisible in traditional ETF flow indicators.
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