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Bitcoin ETFs have erased a $5.8 billion hole

CoinDeskPublished on 3 hours ago

At one point in July, ETFs were down $5.8 billion in net outflows for the year. Now, that’s turned into $800 million in net inflows.

Bitcoin ETFs have erased a $5.8 billion hole

At one point in July, ETFs were down $5.8 billion in net outflows for the year. Now, that’s turned into $800 million in net inflows.

U.S.-listed spot bitcoin ETFs have returned to positive territory for the year, with nearly $800 million in net inflows after hitting a $5.8 billion deficit in July. The turnaround has coincided with bitcoin’s recovery to about $85,000 and roughly $4 billion in ETF inflows since August. The funds have recorded six straight days of inflows totaling $2.84 billion, but the streak remains smaller than two previous six-day records.

Bitcoin

BTC$84,654.61

investors have done it.

They've poured billions into U.S.-listed spot bitcoin exchange-traded funds (ETFs) in recent weeks. The result: these ETFs now sit on nearly $800 million in net inflows for the year, according to data source SoSoValue. That's a 180-degree turn from the red ink earlier this year.

Here's how bad it got. On July 13, the same ETFs were down $5.8 billion for the year. That was the low point, according to data analyzed by CoinDesk.

The turnaround lines up with bitcoin's price recovery to $85,000 from under $58,000 in early June. That price rise, combined with the ETF inflows, has convinced some analysts a new bull run is already underway.

Nearly $4 billion of those inflows have come in since U.S. Treasury Secretary Scott Bessent's August announcement of increased bond purchases, a liquidity management tool rolled out as bond yields surged to multi-year highs.

Still, there is much work to do for the bulls. At $800 million, net inflows for the year are still way smaller than $35.2 billion in 2024 and $21.4 billion in 2025.

Six-day winning streak

These ETFs have pulled in money for six straight days, even as bitcoin's rally has stalled above $85,000 since Tuesday.

In six days, the funds have attracted $2.84 billion. Impressive, sure. But it loses some shine next to the only two other six-day streaks on record.

One ran from Feb. 22 to 29, 2024, and brought in $2.35 billion. The other, from Nov. 6 to 13, 2024, pulled in $4.73 billion, nearly double what just happened.

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Crypto exchange Bitget says $352 million affected in a hack, claims user funds are 'safe'

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