U.S. bitcoin exchange-traded funds (ETFs) are poised to end a run of five straight weeks of net outflows, marking their strongest performance since mid-January.
According to SoSoValue data, the funds attracted $1.1 billion in net inflows over three consecutive days. Even after factoring in Monday’s net outflow, they remain approximately $815 million in positive territory for the week, the largest net gain since the $1.4 billion recorded in the week ending January 16.
U.S. investor demand rebounds
BlackRock’s iShares Bitcoin Trust (IBIT) made up more than half of the three-day inflows into U.S. spot bitcoin ETFs, attracting about $652 million. Meanwhile, Grayscale’s GBTC recorded its biggest single-day inflow on Wednesday since transitioning from a trust to an ETF structure.
The return of inflows points to a rebound in U.S. investor demand, a view supported by the Coinbase Premium Index shifting back into positive territory after 40 consecutive days in the red.
The index measures the price gap between bitcoin traded on Coinbase, widely used by U.S.-based institutions, and prices on the broader global market, and is commonly seen as an indicator of U.S. institutional activity and sentiment.
Read: Investors buy over 400,000 Bitcoin during latest downturn
Bitcoin held by U.S. spot ETFs rises to 1.29 million
According to data from Checkonchain, total bitcoin holdings held by U.S. spot ETFs have risen to 1.29 million BTC, leaving assets under management at less than 10 percent below their October high.
This increase has occurred even though bitcoin’s spot price remains about 45 percent below its October record level. The world’s largest cryptocurrency has been trading sideways this week, hovering in the mid-$60,000 range.
As of 10:48 GMT, Bitcoin was down 1.11 percent to $66,737.
Bitcoin was down almost 14 percent in February, as a broader risk-off sentiment across crypto markets showed little sign of fading throughout the month.
Escalating geopolitical tensions worldwide, uncertainty surrounding major economies and concerns about further disruptions stemming from U.S. trade tariffs continued to push investors away from high-risk assets like cryptocurrencies. Bitcoin has also been stuck in a sustained downturn since October, with purchases by major corporate holder Strategy providing limited support against the ongoing losses.
