Bitcoin ETFs See Back-to-Back Inflows for the First Time in Months
In a notable shift, U.S. Bitcoin exchange-traded funds (ETFs) have experienced consecutive net inflows for the first time in nearly a month, breaking a redemption streak that began in mid-January. This trend comes as Bitcoin's price has rebounded from a low of $60,000 on Thursday to around $70,000, indicating a potential turning point in investor sentiment.
According to SoSo Value data, the inflows began on Friday with $471.1 million in fresh capital, followed by an additional $144.9 million on Monday. This surge in investment coincides with Bitcoin's recent price recovery, suggesting that investors are becoming more optimistic about the cryptocurrency's long-term prospects.
This positive trend stands in contrast to the mid-January peak, when Bitcoin reached nearly $98,000 after a two-week rally starting at $87,000. The subsequent sell-off to $60,000 prompted investors to redeem millions of these spot ETFs, indicating a degree of uncertainty during that period.
Despite the recent price fluctuations, the overall confidence in Bitcoin's long-term prospects remains strong, as evidenced by the spot ETFs' resilient asset under management (AUM). According to Checkonchain, the cumulative AUM of the 11 funds has only decreased by about 7% since early October, from 1.37 million BTC to 1.29 million BTC. This resilience in AUM suggests that investors are still optimistic about Bitcoin's future, despite the recent price decline of over 40% from its record highs above 126,000 in October.
