Bitcoin ETFs See $1.7 Billion in Inflows as BTC Surpasses Cost Basis
- US spot Bitcoin ETFs recorded over $1.7 billion in net inflows within two days.
- On Tuesday, these funds saw $715 million in inflows, following a high of $999 million on Monday.
- Total net assets for US spot Bitcoin ETFs reached around $111 billion, up from a low of approximately $71 billion on June 30.
- The average Bitcoin ETF holder is now above water, with the cost basis estimated at $81,722 per coin.
- As of Tuesday, Bitcoin traded around $86,000 and increased by about 13.8% over the past week.
The significant inflow into Bitcoin ETFs indicates renewed investor confidence as Bitcoin prices rise above key thresholds. This surge helps restore profitability for many ETF holders for the first time since January.
With total net assets reaching approximately $111 billion, the recent performance underscores a strong recovery in the Bitcoin market.(Source)
