U.S. spot Bitcoin ETFs have recorded 10 consecutive trading days of net inflows through Thursday—the longest uninterrupted streak since December 2023.
And while strong inflows point to off-stage demand persisting, analysts noted institutions weren’t placing big risk bets.
Investors are slowly but surely dotting their portfolios with BTC, explained Min Jung, an analyst at Presto Research. “This indicates that even though institutions remain not massively risk-on, there is demand for Bitcoin exposure in the market,” Jung said.
SoSoValue sources said the individual Bitcoin ETFs were associated with a collective net inflow of $89 million on Thursday. Of all the funds, Fidelity’s FBTC saw the largest inflow at $97.14 million in fresh money. BlackRock’s IBIT also reported some gains, with almost $4 million being brought in as new money.
Not all funds were riding that wave. Invesco’s BTCO was associated with a nearly $7 million outflow, while WisdomTree’s BTCW fell by $5 million.
The mixed results indicate that although Bitcoin ETFs’ Overall scores gain, investor confidence is not evenly shared between the funds. This has prompted some investors to rotate their money into certain ETFs and out of others.
Recent BTC ETF sales are lower than previous records
While there have been 10 successive days of inflows into Bitcoin ETFs, the overall total remains down on where it was at a prior peak.
Bitcoin ETFs had net inflows of $1.06 billion during the current period. While this is a significant sign of activity, it’s only a fraction of that all-time high single-day inflow of $1.2 billion from January 17.
Market sentiment remained weak, given macro uncertainty, especially with U.S. policy changes on the horizon. Investors have been closely watching President Donald Trump’s announcement of steep tariffs on foreign countries.
The news has led to declines in the crypto and stock markets. Confidence has made a trepidatious comeback, however, as investors have second-guessed the likely effect of the tariffs—maybe they’re not as corrosive as most assumed.
Bitcoin ETFs make strides, while Ether ETFs struggle to catch up
While Bitcoin ETFs remain popular among investors, Ethereum-based ETFs are lagging. The latter has experienced net outflows on almost every trading day since February 20, except two days.
Experts said it was a dramatic shift in investor attitude, pointing to BTC as the most popular crypto asset class among institutional and retail investors. Min Jung added that the divergence highlighted the dramatic difference in investor belief between Bitcoin and Ethereum.
But even as capital flows into Bitcoin ETFs, Bitcoin’s price hasn’t been insulated from market conditions. According to CoinMarketCap, BTC traded down 1.5% in the past 24 hours, currently at $85,083. On the other hand, Ether fell by 4.7% within the same period and changed hands at $1,929.
Interest in Bitcoin ETFs signal investors still want this digital asset for the long game. However, the hit-or-miss performance of different funds and lagging performance from Ethereum ETFs suggests that faith is far from universal in the crypto market.
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