Bitcoin ETFs Take Nearly $1B in a Day as Average Holder Returns to Profit

U.S. spot Bitcoin ETFs took in $998.95 million on Monday, according to SoSoValue, one week after the same funds posted the smallest weekly net inflow of their history.

BlackRock’s IBIT drew in $381.37 million of it, with Ark & 21Shares’ ARKB following at $289.12 million and Fidelity’s FBTC at $238.84 million. Morgan Stanley’s MSBT added $61.67 million and Bitwise’s BITB $21.56 million. Grayscale’s two funds took single-digit millions apiece, while VanEck’s HODL and Valkyrie’s BRRR recorded nothing at all.

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The surge in daily flows marks a stark reversal from last week, when funds ended the week to September 18 just $6.2 million ahead—their smallest weekly inflow across 141 weeks of trading. Bloomberg Intelligence analyst Eric Balchunas put Monday’s total as the biggest single-day haul since last October.

The rally moved a threshold, as Bitcoin climbed above an estimated ETF cost basis of $81,722 a coin—putting the average holder of a U.S. spot Bitcoin fund back in profit for the first time since January, Balchunas’ colleague James Seyffart said. Bitcoin was trading near $85,900 at the time, around 5% above that mark.

That matters more than the raw flow number, said David Wachsman, president of Hawkeye Digital. Holders sitting on losses “often sell the first chance they get to break even,” he said, so much of this year’s demand has had to fight through that supply. With the average buyer finally in the green, whether institutions want more Bitcoin exposure or were riding the last rally should now be clearer.

Trading told a quieter story, however. The funds turned over about $4.5 billion, which Seyffart called not especially high given the size of the move in Bitcoin, and slightly below the $4.6 billion they traded on Friday. Balchunas said the figure was elevated against stock and gold ETFs, and that IBIT was at or near the top 10 by volume.

He also cautioned that flows booked to one session largely reflect the previous one. Monday’s total probably captures Friday’s buying rather than Monday’s, he said, which would leave the response to Monday’s move still to show up.

Cumulative net inflows since launch now stand at $56.16 billion. The funds hold $110.14 billion, equal to 6.30% of Bitcoin’s market capitalization.

“Bitcoin’s recent recovery toward the $86K–$87K range is being supported by renewed institutional demand, stronger spot ETF inflows and evolving US regulatory developments,” said Vikas Gupta, country manager for India at Bybit. The market has held up despite the Fed’s rate hike and the failure of the Clarity Act, he said, which suggests sentiment is responding to more than monetary policy.