- Published on
Bitcoin ETFs attract $1.08 billion in 3 days but it may not be enough for a steep rally
- Authors
- Name
- DeepHorus
U.S.-listed spot bitcoin ETFs pulled in $1.08 billion over three days this week, SoSoValue data show, signaling renewed but tentative institutional demand. The funds have attracted more than $1 billion, yet the daily pace still trails flows that accompanied prior breakouts. Analysts say inflows are too volatile to confirm a steep bitcoin rally.
Since the ETFs launched in January 2024, bitcoin has had three steep uptrends, each gaining more than 50% without a 20% drawdown from a local high. Those rallies coincided with average daily net inflows above $200 million. The current flow picture is improving but has not matched that threshold.
The first, from Jan. 23 to March 14, 2024, lifted bitcoin 79% from $39,900 to $71,400, with ETF inflows averaging $294 million a day. The second, from Aug. 5 to Dec. 17, 2024, saw a 96% gain from $54,100 to $106,100 and average inflows of $202 million. The third, from April 6 to July 14, 2025, produced a 53% rise from $78,400 to $119,900, with inflows averaging $248 million daily.
Across those 199 trading days, the funds absorbed $46.7 billion, averaging about $235 million a day. There were 39 days above $500 million and six above $1 billion. Those bursts helped validate each leg higher.
The current period is slower. Since July 1, bitcoin has gained 39%, from about $60,000 to $83,500, while ETF inflows have averaged roughly $86 million a day. The funds recorded seven days of $500 million or more, about one in 11 trading days, versus one in five during the steep rallies. No $1 billion inflow day has occurred.
“Institutional demand shows tentative improvement. However, flows remain volatile and sustained inflows are needed to confirm a stronger recovery,” Vikram Subburaj, CEO of India-based Giottus, said in an email. That view reflects a broader analyst consensus that ETF demand is recovering but not yet decisive.
ETF flows are not the only force behind bitcoin prices. Futures trading and direct spot purchases can also drive demand, meaning a rally could accelerate without ETF inflows hitting historical averages. Even so, the funds are a closely watched proxy for institutional appetite.
The $1.08 billion three-day haul is a positive signal for ETF issuers, traders and institutional allocators. If daily inflows climb above $200 million and stay there, history suggests a steeper rally could follow. If they remain volatile, bitcoin may need other demand channels to sustain momentum.
