Bitcoin ETFs Flooded With $1.7B in Two Days Amid BTC Price Surge

US spot Bitcoin exchange-traded funds (ETFs) have seen significant inflows over the past two days, bringing their total net assets to around $111 billion.

This marks a 56% increase from their June 30 low of roughly $71 billion and comes as Bitcoin trades above the estimated cost basis of the average ETF investor.

BlackRock's iShares Bitcoin Trust led Tuesday's inflows with $350 million, followed by Fidelity's Wise Origin Bitcoin Fund with $257 million and Grayscale Bitcoin Mini Trust with $99 million.

Bloomberg Intelligence ETF analyst James Seyffart noted that the average Bitcoin ETF holder was back above water for the first time since January as Bitcoin moved above his estimated cost basis of $81,722 per coin.