US-listed spot Bitcoin exchange-traded funds recorded their first daily net inflow above $200 million since early May, ending weeks of steady withdrawals.
The funds pulled in $221.7 million on Thursday, according to SoSoValue data, breaking a 10-day outflow streak that had drained more than $2.7 billion.
A rebound after a brutal June
The turnaround follows one of the weakest stretches for US spot Bitcoin ETFs this year, with the products bleeding a record $4.5 billion in net outflows during June.
The inflows arrived as Bitcoin reclaimed the $61,000 level after briefly dipping below $59,000.
Bitwise Chief Investment Officer Matt Hougan suggested the market could be nearing a bottom, though the Fear & Greed Index still read “extreme fear” on Friday.
Fidelity leads, BlackRock keeps bleeding
Fidelity’s Wise Origin Bitcoin Fund (FBTC) drove Thursday’s rebound with $166 million in net inflows, making up roughly 75% of the day’s total, according to Farside Investors.
ARK 21Shares Bitcoin ETF (ARKB) followed with $91.8 million, while VanEck’s HODL and Valkyrie’s BRRR added $4.4 million and $1.7 million respectively.
BlackRock’s iShares Bitcoin Trust (IBIT), still the largest US spot fund by assets, kept losing ground with $40.4 million in outflows on Thursday.
That extended an 11-session losing streak dating to June 17, during which IBIT shed more than $2.2 billion.
Altcoin funds join the recovery
The rebound stretched beyond Bitcoin, with US spot Ether ETFs attracting $29.1 million and XRP ETFs returning to net inflows of $6.6 million.
The global crypto market cap rose 2.4% to $2.22 trillion over 24 hours as Bitcoin climbed back above $61,000, according to CoinGecko.
