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Bitcoin ETF News

U.S. spot Bitcoin ETFs posted $221.7 million in net inflows on Thursday, the strongest single-day total in two months, according to SoSoValue. The gain ended a 10-day stretch of outflows that had pulled $2.73 billion from the group.

The turnaround is clear—but the structure of those inflows matters more than the headline number.

BlackRock’s IBIT, the largest and typically most influential Bitcoin ETF, did not lead the move. Instead, it recorded $40.43 million in outflows.

The rebound was driven entirely by smaller funds. Fidelity’s FBTC attracted $165.96 million, ARK’s ARKB added $91.84 million, and VanEck’s HODL contributed $4.35 million.

IBIT’s Absence Changes the Read

When institutional demand is strong, IBIT usually dominates flows—often accounting for 70% to 90% of inflows on positive days.

That distinction is important. Short-term and retail-driven inflows tend to follow price momentum and can reverse quickly. By contrast, IBIT flows are typically tied to longer-term institutional positioning and are less reactive to short-term moves. Its absence doesn’t invalidate the inflow, but it limits how much conviction can be assigned to the reversal.

Bitcoin’s price action supports this interpretation. BTC was trading around $61,700 after rebounding from below $58,000 earlier in the week.

That roughly 6.5% recovery is consistent with a short squeeze and momentum-driven buying. The move back above $60,000 likely helped trigger ETF inflows, linking price strength and fund flows as part of the same dynamic.

Broader Trend Still Under Pressure

Despite Thursday’s inflow, the year-to-date picture remains negative. U.S. spot Bitcoin ETFs are still down roughly $5.4 billion in net flows for 2026.

The $221.7 million inflow offsets only a small fraction—about 4%—of that total. The preceding 10-day outflow streak alone accounted for $2.73 billion, highlighting how limited the recovery is so far.

Earlier in 2026, a shorter outflow period ended with a much larger $753 million inflow, driven by pent-up demand. Thursday’s rebound follows a similar pattern but at a smaller scale, suggesting a more cautious return of capital.

The longer duration of the recent outflow streak also points to more sustained selling pressure.

Citi recently lowered its outlook for Bitcoin and Ethereum, citing weaker ETF flows and macro headwinds. While Thursday’s data provides a counter-signal, it’s not enough to shift the broader trend. Continued inflows will be needed to confirm a more durable reversal.