Bitcoin ETF investors back in the black as BTC nears $87,000

ChainCatcher reports that holders of Bitcoin ETFs have moved back into profit as Bitcoin's latest rally lifts prices toward $87,000. On Monday, Bloomberg ETF analyst James Seyffart wrote on X that the New York morning surge pushed the average ETF investor's cost basis—about $81,700—back above water for the first time since January. Bitcoin climbed past $86,000, hit an intraday high of $86,800 and was trading around $86,800, even as markets digested last week's setbacks for the crypto bill known as the Clarity Act and a Federal Reserve rate hike. The token remains more than 30% below last year's record of $126,000. ETF flows stayed positive. U.S. spot Bitcoin ETFs run by firms including BlackRock, Fidelity, Grayscale and Morgan Stanley posted more than $6 million of net inflows last week, with nearly $593 million added on Thursday and Friday alone. Coinglass data puts total assets under management for these products at $98.8 billion. Bitcoin's broader upswing began in August after the U.S. Treasury said it would at least double the size of its long-term bond buybacks, helping fuel its strongest weekly performance since 2023. Prices later set a fresh all-time high in October, then slid at month-end after the largest liquidation event in crypto history wiped out more than $19 billion in positions. Despite the Fed's hawkish turn, investors have continued to allocate to what traders call the "currency debasement trade," supporting the rebound in Bitcoin.