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Finally. $221 million flow into Bitcoin ETFs, ending a painful 10-day outflow streak
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- DeepHorus
U.S.-listed bitcoin exchange-traded funds finally broke a painful streak, recording $221.7 million in net inflows on Thursday â their largest single-day intake in two months. The reversal ended a 10-day outflow spree that had drained $2.73 billion from the funds, offering a glimmer of hope for investors. This shift marks a significant change in sentiment after weeks of persistent selling pressure that had driven bitcoin to 21-month lows.
Spot bitcoin ETFs have become a key barometer for institutional interest in the cryptocurrency, and the extended outflow streak had contributed to bitcoinâs slide below $58,000 earlier this week. The funds, which launched with great fanfare in January 2024, have seen volatile demand amid macroeconomic uncertainty and regulatory scrutiny. Thursdayâs inflows suggest that some investors see the recent price drop as a buying opportunity.
Fidelityâs FBTC led the charge with a hefty $165.96 million inflow, followed by ARKB at $91.84 million and HODL at $4.35 million. However, BlackRockâs IBIT, the worldâs largest bitcoin ETF, bucked the trend with a $40.43 million outflow. The cumulative inflow ends the 10-day streak, but year-to-date net outflows still sit at a steep $5.4 billion, highlighting the enormity of the selling that has occurred.
Bitcoin has rebounded to around $61,700 following the news, recovering some of its losses from earlier in the week when it hit 21-month lows. The one-day inflow provides validation for bullish investors, but analysts caution that a single day of positive flows is insufficient to signal a lasting recovery. Historically, consistent, sustained inflows into bitcoin ETFs have been a hallmark of bull runs.
Market observers note that the $221.7 million day, while welcome, is a drop in the ocean compared to the $5.4 billion in year-to-date outflows. Without a broader trend of steady buying, Thursdayâs data may represent only a temporary pause in the selling. The crypto market continues to face headwinds from regulatory uncertainty and macroeconomic pressures such as high interest rates.
Looking ahead, the key question is whether this inflow day can turn into a consistent trend. For a real recovery, analysts say sustained positive flows are needed over weeks, not just one day. While the $221.7 million day offers a sigh of relief for bulls, the path to a sustained bitcoin recovery remains uncertain without further confirmation from ETF flows.
