U.S.-listed bitcoin ETFs saw a strong return of investor demand on Monday, easing fears of a broader market selloff after bitcoin briefly slipped below $75,000 over the weekend.
The 11 spot bitcoin ETFs recorded net inflows of $561.8 million, marking their largest single day of buying since Jan. 14, according to data from Farside Investors. The rebound in demand suggests Wall Street’s appetite for bitcoin remains intact despite the recent bout of price weakness.
BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) led the inflows, drawing $142 million and $153.3 million, respectively. The buying came even as bitcoin hit nine-month lows over the weekend, a move that rattled markets and fueled concerns of disorderly trading at the start of the week.
Those fears failed to materialize. Markets steadied on Monday, and the renewed ETF inflows ended a near 10-day stretch of outflows as bitcoin slid from around $98,000 to below $75,000.
A gap remains between bitcoin’s price performance and ETF positioning. Spot bitcoin is down roughly 40% from its October all-time high, yet spot bitcoin ETFs still hold about 1.3 million BTC in assets under management — just 5% below their October peak of 1.37 million BTC, according to Checkonchain.
Even so, many ETF investors remain underwater. The average cost basis across U.S. bitcoin ETFs is estimated at roughly $84,099, while spot bitcoin trades near $78,000.
Bitcoin has previously traded below ETF cost bases, particularly during the second half of 2024, making the current decline a key test of investor conviction. A wave of redemptions could add to downside pressure, while continued inflows would suggest buyers remain confident in bitcoin’s longer-term outlook.
