U.S. Spot Bitcoin ETFs Reverse a $5.8B Deficit, Turn Positive by About $800M YTD

Bitcoin investors have poured fresh capital into U.S.-listed spot bitcoin ETFs over recent weeks, pushing the category back into positive territory for the year. Net inflows now stand at nearly $800 million year-to-date, according to SoSoValue, marking a sharp reversal from earlier losses. The drawdown peaked on July 13, when the same ETFs were down $5.8 billion for the year, CoinDesk analysis shows. The rebound has coincided with bitcoin's recovery to around $85,000 from below $58,000 in early June, a move that—together with renewed ETF demand—has fueled expectations among some analysts that a new bull phase may already be underway. Nearly $4 billion of the year's inflows has arrived since U.S. Treasury Secretary Scott Bessent's August announcement of increased bond purchases, a liquidity-management measure introduced as bond yields climbed to multi-year highs. Even with the turnaround, ETF inflows remain well below prior years: roughly $800 million so far this year versus $35.2 billion in 2024 and $21.4 billion in 2025. The funds have posted inflows for six consecutive days, drawing $2.84 billion over that span, even as bitcoin's rally has stalled above $85,000 since Tuesday. The streak is notable, though smaller than the two other six-day runs on record: $2.35 billion from Feb. 22–29, 2024, and $4.73 billion from Nov. 6–13, 2024.