Bitcoin ETF Inflows Surge to $730M as BTC Hits $80K
US-listed spot Bitcoin exchange-traded funds (ETFs) saw their strongest one-day inflows in nearly eight months, coinciding with a broader improvement in ETF demand. The surge followed Bitcoin's push above $80,000.
The rebound was led by BlackRock's iShares Bitcoin Trust (IBIT), which attracted over 62% of the total inflows, or $454 million. IBIT previously drew a larger single-day inflow of $503 million in August, but Thursday's jump is still significant.
Not all funds contributed equally to the surge, however. VanEck's HODL and WisdomTree's BTCW were the only two ETFs with net outflows on Thursday, recording $19.6 million and $5.2 million respectively.
CryptoQuant cautioned that the move may not yet reflect a strong wave of new long-term accumulation. The analytics firm pointed to weaker spot demand alongside heavy short covering, a pattern that can lift price quickly without guaranteeing sustainability.
The next major checkpoint for Bitcoin sits near its 365-day moving average, which CryptoQuant placed at about $82,300. A decisive close above $83K would signal the start of a new bull market phase, while failure to hold above the area could send prices back toward the 200-day moving average near $69,000.