Significant Inflows for Spot Bitcoin ETFs: $450M Recorded in Early Positioning

Summary:
Spot Bitcoin exchange-traded funds (ETFs) recently experienced a notable surge in net inflows, totaling $457 million in a single day. This positive trend is attributed to renewed demand from institutional investors. Notable contributions came from Fidelity and BlackRock, significantly boosting the total assets of U.S. Bitcoin ETFs. While some experts remain optimistic about this momentum, they advise caution as market dynamics continue to evolve.

Key Takeaways

Spot Bitcoin ETFs saw $457 million in inflows on Wednesday, their best performance in over a month.
Fidelity’s Wise Origin Bitcoin Fund led the inflows with approximately $391 million.
Cumulative net inflows for U.S. spot Bitcoin ETFs have surpassed $57 billion, with total net assets above $112 billion.
Market analysts suggest the increase reflects early positioning amidst shifting macroeconomic expectations.
Bitcoin is currently facing a challenging price environment with 6.7 million BTC held at a loss.

Significant Inflows for Spot Bitcoin ETFs: $450M Recorded in Early Positioning

Spot Bitcoin ETF Inflows Surge

On Wednesday, spot Bitcoin exchange-traded funds (ETFs) garnered an impressive $457 million in net inflows, marking their strongest single-day performance in over a month. This surge indicates a rekindled interest among institutional investors.

Fidelity’s Wise Origin Bitcoin Fund (FBTC) was the frontrunner in inflows, contributing approximately $391 million, which accounted for a significant portion of the day’s total. Following closely was BlackRock’s iShares Bitcoin Trust (IBIT), which attracted around $111 million, as reported by Farside Investors.

As a result of these inflows, the total cumulative inflows for U.S. spot Bitcoin ETFs have now exceeded $57 billion, while total net assets have climbed to over $112 billion. This marked increase is equivalent to about 6.5% of Bitcoin’s entire market capitalization.

This rebound follows a tumultuous period in November and early December, characterized by alternating modest inflows and significant outflows. In fact, the last time spot Bitcoin ETFs experienced inflows exceeding $450 million was on November 11, when they attracted roughly $524 million in a single day.

Previous peak inflows were observed on November 11.
Last time spot Bitcoin ETFs saw inflows of over $450 million was on Nov. 11. Source: Farside Investors
Related: Crypto ETPs to enter ‘cheesecake factory’ era in 2026: Bitwise

Early Macro Positioning Reflected in Bitcoin ETF Inflows

Vincent Liu, the chief investment officer at Kronos Research, observed that the renewed interest in Bitcoin ETFs indicates a strategic early positioning rather than a reaction to late-cycle trends. “ETF inflows feel like early positioning,” Liu remarked. “As rate expectations soften, BTC becomes a clean liquidity trade again. While political factors set the mood, capital is primarily influenced by macroeconomic conditions.”

However, Liu also emphasized that while the momentum may continue, investors should prepare for potential volatility. “Momentum is likely to persist, but anticipate fluctuations," he added. "Flows will track liquidity and price actions. As long as BTC continues to function as a clear macro expression, ETFs will present the path of least resistance.”

On the same day, U.S. President Donald Trump announced plans to nominate a new Federal Reserve chair who supports reducing interest rates. During his national address celebrating the first year of his second term, Trump indicated that he would introduce a successor to the current Fed chair, Jerome Powell, early next year, emphasizing that all known contenders endorse lower rates than existing levels. Generally, lower interest rates are perceived as favorable for risk assets, including cryptocurrencies.

Related: Spot Bitcoin ETFs see $358M outflow: Are investors really abandoning BTC?

Large Amounts of BTC Held at a Loss

Bitcoin’s price has reverted to levels not seen in almost a year, overshadowing a significant supply area between $93,000 and $120,000, which hampers recovery efforts. This top-heavy market structure has resulted in 6.7 million BTC being held at a loss, the highest figure observed in the current market cycle according to Glassnode.

The report indicates that demand remains tenuous in both spot and derivatives markets. Spot buying has been selective and temporary, with corporate treasury flows being sporadic and futures positioning focusing more on reducing risk than gaining confidence. Unless sellers are absorbed above $95,000 or fresh liquidity enters the market, Bitcoin is expected to remain trapped between structural support near $81,000, as stated by Glassnode.

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