U.S. spot bitcoin exchange-traded funds (ETFs) are experiencing a strong resurgence, adding $1.1 billion over three consecutive days. This marks their best performance in six weeks, breaking a streak of net outflows.
The significant inflows coincide with a positive shift in the Coinbase Premium Index, moving out of negative territory after 40 days. This suggests a renewed demand for bitcoin from U.S. investors and institutions.
BlackRock's iShares Bitcoin Trust (IBIT) led the charge, attracting approximately $652 million. Grayscale's GBTC also saw its largest single-day inflow since its conversion to an ETF structure.
Total bitcoin holdings across U.S. spot ETFs have now reached 1.29 million BTC, with assets under management nearing their October peak despite bitcoin's price remaining below its all-time high.
This renewed institutional buying activity, reflected in ETF inflows, is occurring even as open interest on the Chicago Mercantile Exchange (CME) futures market declines. This suggests that current ETF inflows represent outright long positions rather than hedging strategies.