Signals in the latest ETF flow data suggest that Bitcoin bulls have regained momentum.
According to data from Farside Investors, U.S. bitcoin exchange-traded funds attracted $999 million in new inflows on Monday — marking the largest single-day total since October 6, when the funds drew more than $1.2 billion and Bitcoin reached a then all-time high of $126,080.
Bitcoin was trading around $86,552 on Monday after briefly touching $87,330. Over the preceding week, the cryptocurrency had climbed nearly 13%.
Approved by the SEC in 2024, U.S. bitcoin ETFs have opened the door to digital asset exposure for a broader range of investors. Wall Street firms such as BlackRock, Fidelity, and Morgan Stanley now offer share issuance through these funds, streamlining access for institutional and retail participants alike.
Substantial inflows into these funds tend to exert a noticeable impact on price — a dynamic clearly on display on Monday.
Bloomberg ETF analyst James Seyffart noted on Monday that the average ETF holder has moved into positive territory, with the estimated ETF cost basis rising above $81,720 for the first time since January.
BlackRock’s iShares Bitcoin Trust led Monday’s activity, receiving $381.4 million in new investment. The ARK 21Shares Bitcoin ETF followed with $289.1 million, while Fidelity’s Wise Origin Bitcoin Fund brought in $238.8 million.
Investor interest in Bitcoin has picked up again as the artificial intelligence-driven stock rally loses steam and the U.S. Department of the Treasury announced in August that it would expand its liquidity-support buyback operations by at least twofold.
Analysts observed that the Treasury move drove 30-year Treasury yields lower and softened the U.S. dollar, rendering assets such as bitcoin more appealing. In the aftermath of the announcement, Bitcoin posted its strongest rally in years.
A Tuesday report from crypto market data provider CryptoQuant indicated that Bitcoin had moved above its 365-day moving average — a technical signal suggesting that the asset has exited its bear market phase.