The institutional tide has turned. In a dramatic reversal, spot Bitcoin ETFs recorded over $1.02 billion in net inflows across three consecutive trading sessions this week . This marks the strongest performance since mid-January and decisively ends a brutal five-week outflow streak that had drained approximately $3.8 billion from the products . The message is clear: investors are buying the dip.
Bitcoin ETF Inflows Reversed: The Data
Wednesday led the charge with $506.5 million in net inflows—the highest single-day total in three weeks . Thursday added another $254 million, bringing the three-day total to over $1 billion .
BlackRock’s iShares Bitcoin Trust (IBIT) dominated the action, accounting for roughly half of all inflows this week. On Thursday alone, IBIT pulled in $275.8 million . Grayscale’s GBTC also posted its largest single-day inflow since converting to an ETF structure .
The Signal: U.S. Demand Returns
The Coinbase Premium Index—a key gauge of U.S. institutional flows—turned positive for the first time in 40 days . This confirms that the buying pressure is coming from domestic institutional players, not just global arbitrage.
Notably, CME open interest continues to decline . This suggests the ETF inflows represent outright long exposure, not basis trade activity. Institutions are building positions, not hedging.
Altcoin ETFs Join the Party
The recovery isn’t Bitcoin-exclusive. Spot Ethereum ETFs added roughly $173 million over the same period, while Solana funds recorded about $35 million in inflows . XRP ETFs saw modest but positive flows of approximately $7 million .
Analyst Perspectives
ETF analyst Nate Geraci framed the move as dip-buying, noting that while Bitcoin has seen roughly $6.5 billion in outflows since its October peak, that’s modest relative to the $55 billion the category has absorbed since launch . “50% drawdowns are a walk in the park for long-time BTC investors,” he remarked .
Kronos Research CIO Vincent Liu noted that inflows suggest “institutional sentiment is shifting back toward cautious accumulation after a period of sustained de-risking” .
However, LVRG Research Director Nick Ruck cautioned that while positive, the move may represent “short-term relief rather than a fundamental shift,” with sustained inflows needed to confirm structural buying .
My Thoughts
This Bitcoin ETF inflows reversed moment is the clearest signal yet that institutional conviction remains intact. After bleeding $3.8 billion over five weeks, the market could have continued lower. Instead, buyers stepped in with force.
The Coinbase Premium flip is particularly significant. It tells us that U.S.-based institutions are leading this charge, not offshore arbitrageurs. Combined with falling CME open interest, the structure suggests genuine accumulation.
Is this the start of a V-shaped recovery? Probably not. Analyst Jeff Ko rightly notes that after a 50% drawdown, sudden reversals are unlikely . But it does suggest that selling pressure is exhausting and that $60,000–$65,000 is being treated as an accumulation zone.
For investors, this is the moment to watch flows, not prices. Sustained inflows over the coming weeks would confirm that the macro-driven sell-off has run its course.
