Bitcoin ETFs take in $1.7B in 2 days as BTC tops holder cost basis
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
US spot Bitcoin ETFs saw net inflows exceeding $1.7 billion over two days as Bitcoin price rose above the average cost basis of ETF holders. On Monday, inflows were $999 million and on Tuesday $715 million, pushing total net assets to about $111 billion. BlackRock’s iShares Bitcoin Trust, Fidelity’s Wise Origin Bitcoin Fund, and Grayscale Bitcoin Mini Trust led the inflows.
Why it matters
Bitcoin trading above the estimated average cost basis suggests that the average Bitcoin ETF holder is "back above water" for the first time since January. This price movement alongside large ETF inflows indicates renewed investor confidence or increased demand for Bitcoin exposure via ETFs.
Key context
The average Bitcoin ETF investor's cost basis was estimated at $81,722 per coin by Bloomberg Intelligence analyst James Seyffart. Total net assets in US spot Bitcoin ETFs have risen 56% since their June 30 low and currently stand about 13% below their January peak. Bitcoin’s price recently traded around $86,000, briefly exceeding $87,000.
Key numbers and entities
Total inflows over two days: over $1.7 billion Monday inflows: $999 million Tuesday inflows: $715 million ETF total net assets (June 30 low): ~$71 billion ETF total net assets (current): ~$111 billion ETF total net assets (January high): $128 billion BlackRock’s iShares Bitcoin Trust inflows Tuesday: $350 million Fidelity’s Wise Origin Bitcoin Fund inflows Tuesday: $257 million Grayscale Bitcoin Mini Trust inflows Tuesday: $99 million Average ETF investor cost basis: $81,722 Bitcoin price at publication: $86,467
What remains unclear
The source does not detail the specific drivers behind the inflows or describe whether these flows are driven by retail or institutional investors. It also does not explain future market expectations or how these inflows impact the broader cryptocurrency ecosystem beyond ETF holdings.