Bitcoin ETF holders return to profitability for the first time since January

[BTC ETF Holders Return to Profitability] GoldNews reports that on September 22, holders of Bitcoin exchange-traded funds (ETFs) returned to profitability. Bloomberg ETF analyst James Seyffart posted on X on Monday that Monday morning’s rally in New York brought the average ETF investor’s cost basis (approximately $81,700) back into profit territory for the first time since January this year. Despite setbacks for key crypto legislation, the Clarity Act, and Federal Reserve rate hikes last week, Bitcoin surged past $86,000, reaching a daily high of $86,800 and recently trading around $86,800—still over 30% below its all-time high of $126,000 set last year. In terms of fund flows, U.S. spot Bitcoin ETFs managed by institutions including BlackRock, Fidelity, Grayscale, and Morgan Stanley recorded over $60 million in net inflows last week, with investors injecting nearly $593 million on Thursday and Friday alone. According to Coinglass data, the total assets under management for these ETFs now stand at $98.8 billion. On the broader backdrop, Bitcoin began its upward movement in August following the U.S. Treasury’s announcement to at least double the scale of its long-term bond buybacks, marking its best weekly performance since 2023. The price hit a new all-time high in October but pulled back at month-end due to the largest liquidation event in crypto history—over $19 billion in positions liquidated. Despite the Fed’s hawkish shift, investors continue pouring into what is seen as a “currency debasement trade,” driving the price rebound.