Bitcoin Spot ETFs Pull in $510M Over Three Straight Sessions

CoinMarketCap data points to renewed demand for U.S.-listed spot Bitcoin ETFs. After a period of heavy redemptions, the products posted net inflows for three consecutive trading days, drawing about $510 million in total and suggesting some investors are rotating back into Bitcoin exposure. Decrypt, citing 21Shares Head of Research James Butterfill, said ETF flows have improved notably since last Friday, marking the strongest short-term inflow since large-scale outflows began in early May. Butterfill described the prior selloff as the largest sustained outflow on record, totaling roughly $8 billion, and said the sharpest phase of redemptions may now have passed. Bitcoin was trading near $62,000 on Wednesday, up about 4% over the past week. CoinGecko data show the asset fell to roughly $58,000 earlier this month, extending a correction from its peak in October last year. Despite the rebound, many ETF holders remain underwater. Glassnode estimates the average entry cost for spot Bitcoin ETF investors at about $83,800, well above current prices. Butterfill added that large holders—wallets with at least 1,000 BTC—have sold more than $40 billion worth of bitcoin since last year's price peak. That overhang has weighed on the market but has recently started to ease. He cautioned that better liquidity alone may not be enough for an immediate breakout, with U.S. inflation data, the Federal Reserve's rate path, and Middle East-related macro pressures continuing to shape risk-asset performance.