Bitcoin ETF investors back in the black for the first time since January

GoldNews reported that Bitcoin exchange-traded fund (ETF) holders returned to profitability on Sept. 22. Bloomberg ETF analyst James Seyffart wrote on X that a Monday morning rally in New York pushed the average investor's cost basis—about $81,700—back into profit territory for the first time since January. Bitcoin climbed above $86,000 despite recent headwinds, including setbacks for the crypto-related Clarity Act and last week's Federal Reserve rate hikes. The token touched an intraday high of $86,800 and was recently trading around $86,800, still more than 30% below last year's all-time high of $126,000. On flows, U.S. spot Bitcoin ETFs run by major firms such as BlackRock, Fidelity, Grayscale and Morgan Stanley logged more than $60 million in net inflows last week. Investors added nearly $593 million on Thursday and Friday alone. Coinglass data show total assets under management for these ETFs at $98.8 billion. Bitcoin's latest advance began in August after the U.S. Treasury said it would at least double the size of its long-term bond buybacks, helping drive its best weekly performance since 2023. Prices went on to set a new all-time high in October before retreating at month-end amid what was described as the largest liquidation event in crypto history, with more than $19 billion in positions wiped out. Even as the Fed turned more hawkish, inflows continued as investors leaned into what many view as a "currency debasement trade," supporting the rebound.