Demand for US-listed spot Bitcoin ETFs has rebounded to its longest positive period in 2026, with capital flows back to the center of Bitcoin’s latest test of the $80,000 area.
The product posted net inflows for nine consecutive business days ending April 24, adding about $2.12 billion since April 14, according to SoSoValue data.
The drop was the biggest since an explosion in inflows last October and comes as Bitcoin trades near $78,000 after gaining about 11% over the past month.
BlackRock’s iShares Bitcoin Trust remains the main driver of the movement, raising about $1.6 billion in recent periods. Morgan Stanley’s Bitcoin Trust followed with about $115 million, while Grayscale’s BTC products added more than $73 million.
The new demand has increased the total net assets of the entire U.S. Bitcoin Spot ETF to approximately $101 billion, equivalent to approximately 6.57% of Bitcoin market capitalization. With Bitcoin trading near the top of its recent range, this puts the ETF complex back at the center of the market’s next big test.
ETF demand recovers after slump
The recent streak of inflows signals a shift after months in which Bitcoin ETF demand has slowed from the pace seen during the early stages of the spot fund boom.
Bloomberg ETF analyst Eric Balchunas said the Bitcoin ETF’s rolling flow period has turned positive again after months of weakness, and IBIT’s recent investment volume ranks among the strongest across the broader ETF market.
Meanwhile, a recovery in ETF demand has given Bitcoin a clearer base of support than during the previous correction.
Macro research platform Ecoinometrics said the current streak shows money is returning to the market, as the fund’s 30-day rolling net inflows turned to increase after approaching outflow territory.
Still, the platform noted that the recovery in ETF flows has not yet reached a level where a sustained breakout can be more reliably verified. Ecoinometrics said its model points to around 50,000 BTC in 30-day net inflows as the threshold where the odds shift more definitively towards sustained positive returns.
This means that Bitcoin is currently in a stronger position than during the previous correction. There is new demand behind the current bull market, but the size of that demand is still below the levels typically associated with more sustained bull markets.
The cost-based data also shows why the $80,000 region is important. As of April 24, the total cost basis for U.S. Spot Bitcoin ETF buyers was approximately $81,000, according to Bitwise data. IBIT’s cost base was around $80,200, while Fidelity’s FBTC and Bitwise’s BITB were lower at around $59,300 and $55,400, respectively.
This means many recent ETF buyers are nearing breakeven as Bitcoin approaches $80,000. A move through this area could strengthen confidence among new holders, while another rejection could prompt profit-taking and hedging.
(Tag translation) Bitcoin
