Search & fact check with cited sources for What were the key developments in the crypto ETF market on July 14, 2025, including daily flow figures for Bitcoin and Ethereum ETFs, BlackRock's earnings showing a 39% decline in its digital asset products to $48.8 billion despite $15.1

2. BlackRock's Q2 2026 Earnings — Digital Asset Contraction

BlackRock reported its Q2 2026 earnings on July 15, 2025 (covering the period ended June 30, 2025), revealing a sharp drop in its digital-asset AUM:

• Digital asset AUM fell 39% year-over-year to $48.8 billion, down from $79.6 billion a year earlier .
• $15.1 billion in net inflows continued to pour into BlackRock's crypto products over the trailing 12 months (including both IBIT and other digital asset products) .
• $45.8 billion in market depreciation (price declines) overwhelmed those inflows, accounting for the bulk of the AUM decline .
• $3.1 billion in client outflows and $8.7 billion in market losses in Q2 2026 alone contributed to a nearly 20% quarter-over-quarter drop .
• Overall BlackRock AUM reached a record $15.34 trillion, and the firm beat revenue and EPS estimates — iShares alone drove $177.9 billion in ETF inflows . The digital-asset shrinkage was an isolated pocket of weakness within an otherwise strong quarter.

3. Citi's Reduced Bitcoin Price Target and Zero-Inflow Forecast

On July 1, 2025, Citigroup issued a starkly bearish crypto research note:

• 12-month Bitcoin price target cut to $82,000, down from $112,000 previously .
• 12-month Ether price target cut to $2,240, down from $3,175 .
• Expected net spot crypto ETF inflows over the next 12 months lowered to $0, a sharp reduction from a prior estimate of $10 billion .
• Reasons cited: Weakening investor appetite, negative ETF flows, and a lack of progress on U.S. digital-asset legislation .

This was Citi's second downward revision in 2026 .

4. The Eight-Week Outflow Streak and Recovery

The positive flow on July 14 capped a broader reversal pattern:

• Eight consecutive weeks of net outflows from U.S. spot Bitcoin ETFs through early July 2025, with total outflows surpassing $8.2 billion .
• The streak broke the week ending July 10, when combined Bitcoin and Ethereum ETFs flipped positive for the first time since early May: Bitcoin ETFs drew $197.40 million and Ethereum ETFs added $84.42 million, for a total of $281.8 million .
• The recovery was partly attributed to a crypto price rebound after the Federal Reserve's June FOMC meeting (hawkish hold at 3.50%–3.75%) — ETF demand returned as the market repriced .
• By the week of July 14, flows had strengthened further, with the combined $239.42 million inflow confirming that the recovery was gaining momentum .

Summary Table

Bottom line: July 14, 2025, marked the continuation of a fragile but real recovery in crypto ETF demand after an eight-week, $8.2B outflow streak. The positive flows stood in contrast to Citi's zero-inflow forecast and BlackRock's 39% digital-asset AUM decline — the latter a story of price depreciation overwhelming persistent investor inflows.