Spot Bitcoin ETFs Pull in $2.8B as BTC Eyes $80K

Spot Bitcoin ETFs have attracted $2.8 billion of net inflows over eight consecutive sessions, pushing Bitcoin from $79,520 to an intraday high of $80,475 as the crypto asset tests the $80,000 threshold.

The Pull of ETF Money Streams

■BlackRock's IBIT fund accounts for 72% of the total, delivering $2.02 billion in inflows.

■Grayscale's GBTC posted a net outflow of $50.4 million during the same period.

■Since launch, cumulative net inflows in the category total $54.7 billion, with IBIT pulling $63.1 billion and GBTC shedding $27.6 billion.

Light and Shadow: BlackRock vs Grayscale

Bloomberg ETF analyst Eric Balchunas highlighted that gold and Bitcoin funds together amassed $7 billion in the past week, labeling the surge a “de‑basement trade” that diverted attention from AI. He noted that IBIT's year‑to‑date flows have turned positive after a prolonged red period.

Market Depth and Trading Volume

Stephen Wundke, strategy and revenue director at Algoz Technologies, reported weekly trading volume hitting $90 billion, roughly double the average, with Bitcoin accounting for just under $40 billion of that total. Weekly ETF inflows of nearly $2 billion matched the combined inflows of the previous 30 days.

Expert Take: Flow‑Price Correlation

Tim Sun, senior researcher at HashKey, said that tracking flows against prices since 2024 shows a long‑term correlation coefficient below 0.5, translating to roughly a 0.4% price move for every $100 million of net inflow. Sun cautioned that sustained inflows beyond five days signal “sustained spot demand,” and the current run follows a heavy correction in the $60,000‑$70,000 range.

Markets should view these ETF inflows not as a fleeting moment but as a foundation for lasting demand. Continuous net inflows into IBIT and similar spot products strengthen Bitcoin’s price base while potentially dampening volatility. Yet the tapering of daily inflows—from a peak of $606.3 million to $232.2 million—suggests that new capital must be absorbed before the asset can break the $85,000 resistance. Holding above $72,000 would provide investors confidence and could mark the start of a new buying window.