Spot Bitcoin ETF market rebounded on Thursday, breaking a four-day streak of outflows with an impressive $475.15 million inflow.
The US spot Bitcoin ETF market rebounded on Thursday, breaking a four-day streak of outflows with an impressive $475.15 million inflow. This turnaround coincides with renewed institutional interest, particularly as KULR Technology Group announced its Bitcoin treasury strategy. Meanwhile, Bitcoin BTC $96 739 24h volatility: 1.6% Market cap: $1.92 T Vol. 24h: $48.67 B is struggling to surpass the psychological $100,000 mark.
Fidelity’s FBTC led the charge, contributing $254.37 million of Thursday’s total inflow. ARK & 21Shares’ ARKB followed with $186.94 million, while BlackRock’s IBIT added $56.51 million. Smaller inflows were also recorded by Grayscale’s Bitcoin Mini Trust (BTC) at $7.19 million and VanEck’s HODL at $2.70 million.
However, not all ETFs shared the bullish momentum. Grayscale’s GBTC saw outflows of $24.23 million, and Bitwise’s BITB lost $8.32 million. Five other ETFs reported no inflows, as per data from SoSoValue.
Adding to the day’s momentum, New York Stock Exchange-listed KULR Technology Group announced its purchase of 217.18 Bitcoin for $21 million. This move marks the company’s entry into Bitcoin treasury holdings, a strategy popularized by firms like MicroStrategy.
Meanwhile, Bitwise has filed for a new ETF — “Bitwise Bitcoin Standard Corporations ETF” — aiming to invest in companies with over 1,000 Bitcoin holdings.
ETF Store President Nate Geraci reflected the growing trend of corporations adopting Bitcoin as a reserve asset. “The BTC treasury operations virus is spreading,” he stated on X.
It is important to note that Bitcoin ETFs recorded a 15-day positive streak earlier this month, indicating that the recent negative trend may have been a temporary market reaction. Since their launch in January, these funds have cumulatively amassed $35.96 billion in net inflows.
Spot Ethereum ETFs also recorded a positive flow of $117.09 million on Thursday.
Bitcoin’s price volatility remains a focal point as the cryptocurrency trades at $95,600, down 2.35% in the last 24 hours. This marks a steep drop from its December 17 peak of $108,268. On Thursday, the cryptocurrency tried to cross the $100,000 mark but got rejected. Its market cap, which recently soared above $2 trillion, now stands at $1.88 trillion, reflecting the ongoing bearish sentiment.
The broader cryptocurrency market has also faced a 1.08% drop in its market cap, currently sitting around $3.32 trillion.
Meanwhile, companies such as MicroStrategy and Metaplanet continue to accumulate Bitcoin during the dip, taking advantage of discounted prices.
Despite these challenges, some technical indicators suggest a possible recovery. CryptoQuant contributor Burrakesmeci noted a bullish trend in Binance’s Bitcoin Taker Buy Volume since late October. This metric, which tracks the volume of buy transactions executed at the best available price, has been forming “higher lows,” indicating increasing investor interest and buying pressure.
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With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.
