- Bitcoin ETFs are slowly regaining strength as inflows rise again, but demand still trails far behind past bull cycles.
- BlackRock’s iShares Bitcoin Trust dominates the market, driving nearly all ETF inflows and shaping investor confidence.
- Grayscale’s GBTC continues to bleed funds, showing investors prefer more efficient and trusted Bitcoin ETF options.
Bitcoin ETFs in the U.S. are starting to pick up again after a quiet stretch, showing that investors are slowly regaining confidence. Data from Glassnode shows Bitcoin’s recent price rebound from $107,000 came right as money started flowing back into spot ETFs.
Still, the inflows are small—less than 1,000 BTC a day—compared to the 2,500 BTC seen during past major rallies. This means interest is returning, but the excitement hasn’t fully come back yet.
The renewed ETF activity reflects ongoing institutional interest, though investors seem more selective this cycle. Data from SoSoValue shows Bitcoin ETFs recorded a $202.48 million daily net inflow, pushing total managed assets to around $154.81 billion.
During the same period, Bitcoin traded near $113,689, maintaining relative price stability despite brief fluctuations. Hence, capital continues to flow steadily into Bitcoin ETFs, reinforcing the view that institutions now see Bitcoin as a core investment asset rather than a speculative trade.
BlackRock Leads the ETF Pack
According to Vetle Lunde, Head of Research at K33, Bitcoin ETFs have attracted $26.9 billion in net inflows this year. However, BlackRock’s iShares Bitcoin Trust (IBIT) remains the clear leader, contributing a massive $28.1 billion of that total.
Consequently, without IBIT, total ETF inflows would actually turn negative. This dominance highlights BlackRock’s unmatched market position and investor trust in its structure and performance.
In contrast, Grayscale’s GBTC continues to struggle. The fund has not recorded a single month of positive flows since its January 2024 conversion. GBTC has lost about $24.62 billion in cumulative outflows, severely weighing on the sector’s overall performance.
Moreover, analysts note that removing both IBIT and GBTC from aggregate figures would leave the ETF market slightly positive, though not significantly.
