U.S.-listed spot bitcoin ETFs saw a strong resurgence in demand on Monday, easing concerns of a broader market selloff after bitcoin slipped below $75,000 over the weekend.

The 11 spot bitcoin ETFs recorded net inflows of $561.8 million, their largest single-day haul since Jan. 14, according to data from Farside Investors. The inflows suggest institutional appetite for bitcoin remains firm despite the recent price drawdown.

BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) led the buying, attracting $142 million and $153.3 million, respectively. The renewed demand followed a sharp weekend decline that pushed bitcoin to nine-month lows and fueled fears of disorderly trading at the start of the week.

Those fears largely failed to materialize as markets stabilized on Monday. The ETF inflows also snapped a near 10-day streak of net outflows, during which investors pulled millions of dollars as bitcoin slid from around $98,000 to below $75,000.

A divergence remains between price action and ETF positioning. Spot bitcoin is down roughly 40% from its October all-time high, yet spot bitcoin ETFs still hold about 1.3 million BTC in assets under management — only around 5% below their October peak of 1.37 million BTC, according to Checkonchain.

Even so, ETF investors remain underwater on average. The estimated cost basis across U.S. bitcoin ETFs stands near $84,099, while spot bitcoin is trading closer to $78,000.

Bitcoin has previously traded below ETF cost bases, particularly in the second half of 2024, making the current downturn a key test of investor conviction. A wave of redemptions could add further downside pressure, while continued inflows would signal confidence in bitcoin’s longer-term outlook.