After enduring weeks of heavy investor withdrawals, US-listed spot Bitcoin exchange-traded funds (ETFs) have staged a notable recovery, recording their largest single-day inflow since early May.
Fresh data shows the funds attracted $221.7 million in net investments on Thursday, bringing an end to a prolonged period of selling pressure that had weighed heavily on the sector.
Recovery Ends 10 Consecutive Days of Investor Withdrawals
The latest figures mark a significant turnaround for Bitcoin ETFs, which had experienced 10 straight trading sessions of net outflows before Thursday’s rebound.
During that losing streak, investors withdrew more than $2.7 billion, contributing to one of the weakest periods for the products since their launch.
June proved especially difficult for the market, with US spot Bitcoin ETFs recording a monthly net outflow of approximately $4.5 billion, the largest monthly withdrawal on record.
Bitcoin Price Rebound Boosts Investor Confidence
The renewed interest in Bitcoin investment products coincided with a recovery in the cryptocurrency’s market price.
Bitcoin climbed back above $61,000 after briefly slipping below $59,000 earlier in the week.
The price recovery has encouraged some market participants to believe that selling pressure may be easing.
Several analysts have suggested the recent weakness could represent a market bottom, although investor sentiment remains cautious.
The widely followed Fear & Greed Index continued to register an “Extreme Fear” reading on Friday, highlighting lingering uncertainty across the cryptocurrency market.
Fidelity Dominates the Day’s ETF Inflows
Among all US spot Bitcoin ETFs, Fidelity’s Wise Origin Bitcoin Fund (FBTC) attracted the largest share of new investments.
The fund brought in $166 million, representing roughly three-quarters of the day’s total net inflows.
Other funds also posted gains, with the ARK 21Shares Bitcoin ETF (ARKB) recording $91.8 million in fresh investments.
Meanwhile, the VanEck Bitcoin ETF (HODL) added $4.4 million, while the Valkyrie Bitcoin Fund (BRRR) received approximately $1.7 million in new capital.
BlackRock Fund Continues to Face Selling Pressure
Despite the broader market recovery, BlackRock’s iShares Bitcoin Trust (IBIT) remained an exception.
The largest US spot Bitcoin ETF by assets recorded another $40.4 million in net outflows on Thursday, extending its withdrawal streak to 11 consecutive trading sessions.
Since June 17, investors have pulled more than $2.2 billion from the fund, making it one of the few major Bitcoin ETFs yet to participate in the recent recovery.
Ether and XRP Investment Products Also Gain Ground
The positive momentum was not limited to Bitcoin-focused funds.
US-listed spot Ether ETFs attracted $29.1 million in net inflows on Thursday after adding $14.9 million the previous trading day.
Investment products tied to XRP also returned to positive territory, collecting $6.6 million in new investments after two consecutive sessions of net withdrawals.
Crypto Market Value Climbs as Prices Recover
The broader cryptocurrency market also strengthened alongside Bitcoin’s rebound.
The total global cryptocurrency market capitalization increased by 2.4% over the previous 24 hours, reaching approximately $2.22 trillion as investors responded to improving price action.
Although recent inflows suggest confidence may be gradually returning, market sentiment remains cautious, with traders continuing to monitor price movements and institutional investment trends for signs that a more sustained recovery is taking shape.
