Hassan Maishera
TL;DR
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U.S. spot Bitcoin ETFs recorded $221.7 million in net inflows on Thursday, ending a 10-day run of outflows.
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Fidelity's FBTC led the gains with $166 million, followed by ARKB with $91.8 million.
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BlackRock's IBIT remained under pressure, posting $40.4 million in outflows for its 11th consecutive day.
U.S. spot Bitcoin exchange-traded funds (ETFs) returned to positive territory on Thursday, recording $221.7 million in net inflows and snapping a 10-day streak of investor withdrawals.
The renewed demand comes after a difficult period for Bitcoin investment products, which collectively lost more than $2.7 billion during the recent outflow streak.
June also marked the weakest month for spot Bitcoin ETFs since their launch in 2024, with approximately $4.5 billion exiting the funds.
The reversal suggests investor sentiment may be beginning to improve as Bitcoin regains momentum.
Fidelity and ARKB Lead the Inflow Recovery
Fidelity's FBTC attracted the largest share of Thursday's inflows, adding $166 million in new investments.
ARK Invest and 21Shares' ARKB followed with $91.8 million in net inflows, while VanEck's HODL posted a more modest $4.4 million gain.
The positive flows represent the first day of net inflows since June 16, potentially signaling that institutional investors are gradually returning to the market after weeks of risk reduction.
Despite the broader recovery across Bitcoin ETFs, BlackRock's iShares Bitcoin Trust (IBIT) remained an exception.
The fund recorded $40.4 million in net outflows on Thursday, extending its losing streak to 11 consecutive trading days.
During that period, approximately $2.2 billion has left IBIT. On a weekly basis, the fund has now experienced net outflows for eight straight weeks, making it the weakest-performing spot Bitcoin ETF in recent months.
Market analysts believe the diverging fund flows reflect changing investor preferences rather than widespread pessimism toward Bitcoin.
Nick Ruck, Director of LVRG Research, said recent inflows suggest investors are cautiously rebuilding exposure following a period of profit-taking and macroeconomic uncertainty.
According to Ruck, BlackRock's continued outflows may represent capital rotating into smaller or lower-cost ETF products instead of investors abandoning Bitcoin altogether.
He added that this trend points to a more mature ETF market, where investors are becoming increasingly selective when allocating capital across issuers.
Bitcoin Price Recovery Supports Improving Market Sentiment
The ETF inflows coincided with renewed strength in Bitcoin's price. Since the beginning of the month, Bitcoin has climbed from roughly $58,000 to around $61,730, representing a gain of approximately 2.8% over the past 24 hours.
The price recovery has reinforced optimism that institutional demand could begin strengthening after weeks of subdued activity.
On-chain data also indicates improving market fundamentals. According to Glassnode analyst Chris Beamish, long-term Bitcoin holders have shifted back into accumulation following an extended period of distribution.
Buying activity is reportedly broadening across multiple wallet sizes, including smaller investors and entities holding between 100 and 1,000 BTC.
Beamish also pointed to a buy-heavy Coinbase order book and increasingly supportive options market positioning as signs that Bitcoin's market structure is stabilizing.
While Thursday's ETF inflows mark an encouraging shift in sentiment, analysts caution that one day of positive flows is not enough to confirm a lasting market turnaround.
Ruck noted that the broader cryptocurrency market appears to be moving from defensive positioning toward selective optimism, supported by improving risk appetite and expectations of wider institutional adoption.
However, he emphasized that consistent ETF inflows and continued buying activity will be necessary to confirm a durable recovery in investor confidence.
