U.S. spot bitcoin exchange-traded funds (ETFs) saw a strong rebound on Thursday, pulling in $240 million in net inflows and halting a six-day stretch of steady outflows that had weighed on the market.
According to data from SoSoValue, BlackRock’s iShares Bitcoin Trust (IBIT) led the surge with $112.4 million in new investments. Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with $61.6 million, while Ark Invest and 21Shares’ ARKB added $60.4 million. Bitwise’s BITB also recorded a modest $5.5 million in inflows.
Trading activity was robust, with the group of spot bitcoin ETFs posting a combined daily trading volume of $4.77 billion, up from $4.07 billion the previous day.
Market Reversal After a Tough Week
Thursday’s inflows marked a notable turnaround after nearly $2.05 billion flowed out of bitcoin ETFs over the previous six sessions. Despite the renewed investor interest, Bitcoin’s price dipped 1.32% in the past 24 hours to $101,919, extending its seven-day decline to roughly 7%, according to data. Ethereum also traded lower, slipping 1.2% to $3,345.
Analysts Eye Long-Term Upside
While short-term sentiment remains mixed, JPMorgan analysts suggested that Bitcoin could climb to around $170,000 within the next six to 12 months, based on a volatility-adjusted comparison to gold. The projection reflects continued optimism about Bitcoin’s potential as a digital store of value amid increasing institutional participation.
Ethereum ETFs Also See Turnaround
The rebound wasn’t limited to Bitcoin. U.S. spot Ethereum ETFs also broke their own six-day outflow streak, bringing in $12.5 million in net inflows on Thursday. The synchronized recovery across both crypto ETF segments suggests that investor confidence may be stabilizing after a week of declines.
A Positive Signal for the Crypto Market
The return of inflows to both Bitcoin and Ethereum ETFs could signal renewed investor appetite following a turbulent period for digital assets. If the momentum continues, analysts say, it may point to improving sentiment and a potential recovery in broader crypto markets.
