Key facts
- U.S. spot Bitcoin ETFs attracted $221.7 million in inflows on Thursday.
- This inflow ended a 10-day streak of outflows.
- Fidelity's FBTC led inflows with $166 million.
- BlackRock's IBIT experienced an outflow of $40.4 million.
- Year-to-date net outflows from Bitcoin ETFs stand at $5.4 billion.
- Bitcoin rebounded to over $61,000 after a recent dip below $58,000.
U.S. spot Bitcoin ETFs saw inflows totaling $221.7 million on Thursday, ending a 10-day streak of outflows that had drained approximately $2.7 billion. This marks the largest daily inflow in about two months and offers a reprieve after June, which recorded record outflows of around $4.5 billion. Fidelity's FBTC led the inflows with $166 million, while BlackRock's IBIT experienced an outflow of $40.4 million. The shift is attributed to a weaker-than-expected U.S. jobs report and signals from the Federal Reserve suggesting inflation risks may be easing, which has cooled expectations for further interest rate hikes and supported a rebound in Bitcoin to above $61,000 from a recent low below $58,000. Analysts caution that a sustained trend of inflows is needed to confirm a true market reversal.