Spot Bitcoin exchange-traded funds pulled in more than $1 billion of net inflows over three trading sessions this week, a reversal that came even as Bitcoin remained well below its peak.
The US-listed spot Bitcoin ($BTC) ETFs logged a combined $1.02 billion in inflows from Tuesday to Thursday, according to data from SoSoValue. The funds pulled in $506.51 million on Wednesday, the largest single-day total during the three days.
On Friday, ETF analyst Nate Geraci said in a post on X that investors appeared to be “buying the dip” amid the recent downturn.
He said spot Bitcoin ETFs have seen about $6.5 billion in outflows since Bitcoin’s record high in early October, a figure he described as modest relative to the $55 billion the category has absorbed since January 2024.
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“50% drawdowns are walk in the park for long-time $BTC investors,” Geraci wrote. “But appears newer ETF investors aren’t worried either.”
Flows reverse multi-week outflow streak
This week’s inflows follow five consecutive weeks of net withdrawals, with the last two weeks of January recording a combined $2.82 billion in outflows.
The rebound was led by BlackRock’s iShares Bitcoin Trust (IBIT), which logged $275.82 million in net inflows on Thursday alone. Fidelity’s FBTC and Ark 21Shares’ ARKB posted outflows, but were outweighed by gains in other funds including Bitwise’s BITB and Grayscale’s $BTC.
Altcoin ETFs have also turned positive in recent trading sessions. Spot Ether (ETH) ETFs added about $173 million over the same three-day period, while Solana funds logged roughly $35 million in inflows. Meanwhile, $XRP ($XRP) ETFs logged a modest $7 million in inflows.
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Analysts flag ETF flows as sentiment gauge
The inflows come as market participants discuss whether the recent selling pressure is easing. On Friday, several analysts said Bitcoin’s roughly 50% drawdown may be approaching exhaustion.
CoinEx chief analyst Jeff Ko previously told Cointelegraph that improvements in spot ETF inflows suggest aggressive selling pressure may be fading. However, he said a sudden V-shaped recovery is unlikely after a steep decline.
Bitrue research lead Andri Fauzan Adziima similarly pointed to oversold technical indicators and said sustained ETF inflows could serve as a catalyst for stabilization.
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