US spot Bitcoin exchange-traded funds (ETFs) returned to positive territory on Wednesday after recording $159.5 million in net inflows as Bitcoin recovered above $77,000.
The turnaround ended two consecutive trading days of heavy withdrawals. Spot Bitcoin ETFs recorded $450.4 million in net outflows on Sept. 15, followed by another $295.9 million on Sept. 16. That means roughly $746.3 million left the funds across those two sessions before demand returned on Sept. 17.
BlackRock’s iShares Bitcoin Trust (IBIT) drove the recovery by attracting $183.7 million in fresh capital. Fidelity’s FBTC recorded $16.6 million in withdrawals, while VanEck’s HODL lost $7.6 million. Most of the remaining funds reported no meaningful flows.
Bitcoin ETF flows (Source: Farside Invertors)
Despite the rebound, the three-day flow picture is still negative. Combining the Sept. 15-17 figures leaves spot Bitcoin ETFs with approximately $586.8 million in net withdrawals over the period. Still, the latest session shows that institutional demand has not disappeared after this week’s sharp sell-off.
Bitcoin Reclaims $77,000 as Risk Appetite Improves
Bitcoin also moved higher over the past 24 hours. The price chart shows BTC climbing from roughly $76,400 to around $77,500, which is a gain of approximately 1.5%.
BTC’s price action over the past 24 hours (Source: CoinCodex)
BTC briefly approached $77,600 after spending much of the previous session below $77,000. The recovery is important after Bitcoin recently fell toward the $75,000-$76,000 area following the failure of the CLARITY Act to advance in the Senate.
Bitcoin's recovery also coincided with improving sentiment across risk markets. US stocks rose Thursday, with the S&P 500 gaining 1.14% and the Nasdaq advancing 1.69%. This happened as Treasury yields eased and oil prices declined.
That came despite the Federal Reserve raising its benchmark interest rate by 25 basis points to 3.75%-4%, its first increase in more than three years. The central bank also signaled that further tightening is possible to bring inflation under control.
Another potentially encouraging sign for Bitcoin is that the ETF recovery appears concentrated specifically in BTC. US spot Ethereum ETFs recorded approximately $39.3 million in net outflows during the same Sept. 17 session. This could suggest that the new demand was not simply a broad-based return to crypto funds.
