Spot Bitcoin exchange-traded funds (ETFs) recorded $457 million in net inflows on Wednesday, marking their strongest one-day inflow in more than a month as institutional demand showed signs of accelerating again.
Fidelity’s Wise Origin Bitcoin Fund (FBTC) led the inflows, posting the day’s biggest inflow of roughly $391 million, accounting for the majority of the day’s net inflows. BlackRock’s iShares Bitcoin Trust (IBIT) follows with about $111 million, according to the data data from Farside Investors.
The inflows lifted the cumulative net inflows of US spot Bitcoin (BTC) ETFs to more than $57 billion, while total net assets climbed above $112 billion, equivalent to about 6.5% of Bitcoin’s total market capitalization.
The recovery followed a volatile period in November and early December, when flows alternated between modest inflows and sharp outflows. Spot Bitcoin ETFs last saw inflows above $450 million on Nov. 11, when the funds withdrew roughly $524 million in a single day.
Related: Crypto ETPs Enter ‘Cheesecake Factory’ Era in 2026: Bitwise
Bitcoin ETF inflows show early macro positioning
Vincent Liu, chief investment officer at Kronos Research, said the renewed interest appears to reflect early positioning rather than late-cycle enthusiasm. “The ETF influx seems like early positioning,” Liu said. “As Rate Expectations Dwindle, BTC Becomes Pure Liquidity Trade Again. Politics Set Sentiment, But Equity Moves Macro.”
However, Liu warned that while the momentum could continue, it was unlikely to be smooth sailing. “Momentum probably remains, but expect it to be uneven,” he said. “Flows will follow liquidity and price action. As long as BTC remains a pure macro expression, ETFs remain on the path of least resistance.”
On Wednesday, the US president is Donald Trump he said plans to name a new Federal Reserve chairman who strongly supports cutting interest rates. Speaking during a national address marking the first year of his second term, Trump said he would announce a successor to current Fed Chairman Jerome Powell early next year, adding that all known finalists favored lower rates than current levels. Lower rates are usually seen as a positive for risky assets like cryptocurrency.
Related: Spot Bitcoin ETFs See $358M Outflow: Are Investors Really Abandoning BTC?
About 6.7 million BTC in loss
Bitcoin has returned to price levels last seen nearly a year ago, leaving behind a dense cluster of bids between $93,000 and $120,000 that continues to limit recovery attempts. This peak structure pushed the amount of Bitcoin held at a loss to 6.7 million BTC, the highest level of the current cycle, according to for Glassnode.
The report notes that demand remains fragile in the spot and derivatives markets. Spot buying has been selective and short-lived, corporate treasury flows episodic, and futures positioning continues to reduce risk rather than rebuild confidence. Until sellers are absorbed above $95,000 or fresh liquidity enters the market, Bitcoin is likely to remain caught between structural support near $81,000, according to Glassnode.
Magazine: 2026 is the year of pragmatic privacy in crypto – Canton, Zcash and more
About the Author
