US spot Bitcoin ETFs top $200M daily inflows for first time since May
In brief
- US spot Bitcoin ETFs posted $221.7M net inflows Thursday, first $200M+ day since May
- 10-day outflow streak totaling $2.7B reversed by Thursday's inflow
- Fidelity's FBTC led with $166M inflows; BlackRock's IBIT lost $40.4M
- Bitcoin reclaimed $61,000; crypto market cap rose 2.4% to $2.22 trillion
Fidelity Leads the Rebound
Fidelity's Wise Origin Bitcoin Fund led Thursday's recovery with $166 million in net inflows, according to SoSoValue data. ARK 21Shares Bitcoin ETF followed with $91.8 million in inflows, signaling renewed institutional interest in spot products.
BlackRock's iShares Bitcoin Trust, the largest US spot Bitcoin ETF by assets, bucked the trend. The fund posted $40.4 million in net outflows on Thursday and has lost more than $2.2 billion during an 11-session outflow streak since June 17. The divergence suggests fund flows aren't yet synchronized—some investors are rotating, not returning.
Bitcoin's Recovery and Broader Market Moves
Bitcoin reclaimed the $61,000 level after briefly falling below $59,000, marking a technical floor that held under pressure. The global crypto market cap climbed 2.4% to $2.22 trillion over the past 24 hours, a modest recovery from the wreckage of June, when US spot Bitcoin ETFs posted a record $4.5 billion in net outflows.
Altcoins saw modest participation. US spot Ether ETFs attracted $29.1 million on Thursday, while XRP ETFs also returned to net inflows, attracting $6.6 million after two consecutive sessions of outflows.
Sentiment and Outlook
Crypto market sentiment on Friday was measured at an "extreme fear" reading by the Fear & Greed Index, yet some strategists see opportunity in the dislocation. Bitwise Chief Investment Officer Matt Hougan suggested the market could be nearing a bottom. One day of inflows doesn't reverse the narrative—but it breaks the losing streak.
