SoSoValue data show that US-listed bitcoin exchange-traded funds attracted more than $1 billion this week over three days. Analysts interpret the inflows as renewed institutional demand but warn that strong inflows must continue to sustain bitcoin's price recovery. Giottus CEO Vikram Subburaj described institutional demand as tentatively improving. Subburaj said flows remain volatile and continued inflows are necessary to confirm a stronger recovery.
Bitcoin has experienced three steep rallies since the funds began operating in January 2024. Those rallies coincided with average daily net inflows exceeding $200 million. During the first rally, from January 23 to March 14, 2024, bitcoin gained 79%, moving from about $39,900 to $71,400. The funds attracted an average of $294 million daily during that period. Daily inflows reached at least $500 million on 10 days and at least $1 billion on one day.
The second rally lasted from August 5 to December 17, 2024. Bitcoin advanced 96%, moving from about $54,100 to $106,100. The funds averaged $202 million in daily inflows during that period. Daily inflows reached at least $500 million on 16 days and at least $1 billion on three days.
The third rally lasted from April 6 to July 14, 2025. Bitcoin climbed 53%, moving from about $78,400 to $119,900. The funds averaged $248 million in daily inflows during that period. Daily inflows reached at least $500 million on 13 days and at least $1 billion on two days.
The funds attracted $46.7 billion across the three rallies' combined 199 trading days. Daily inflows averaged about $235 million across those periods. Daily inflows reached at least $500 million on 39 days and at least $1 billion on six days.
Bitcoin has risen 39% since July 1, moving from about $60,000 to $83,500. The funds recorded inflows of at least $500 million on seven days during that period. Such inflows occurred about once every 11 trading days, compared with about once every five trading days during the three steep rallies. Average daily inflows since July 1 are about $86 million, substantially below the more than $200 million associated with those rallies. No day during the current period recorded inflows of at least $1 billion.
Historical patterns suggest that another steep bitcoin rally would require consistently strong ETF inflows. However, historical performance does not guarantee future results. Demand through futures trading or direct purchases of bitcoin in the spot market can also drive prices higher.
Bitcoin ETFs Attract $1 Billion in Three Days, Analysts Cautious on Price Recovery
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Summary
Bitcoin ETFs drew over $1 billion in three days, driven by ETF inflows. Institutional interest remains strong, though daily inflows have slowed to $86 million since July 1, down from $200 million in earlier rallies. Bitcoin price today shows little movement despite the inflows. Analysts say sustained ETF inflows are key to supporting a Bitcoin price recovery. Three major rallies since January 2024 all followed strong ETF inflows.
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