Markets Bitcoin ETFs listed in the U.S. experienced an inflow of $221.7 million on Thursday, marking their highest daily intake in two months and concluding a troubling 10-day outflow period.

Spot ETFs see significant inflow, primarily from non-BlackRock funds.

According to SoSoValue, the inflow was largely driven by Fidelity’s FBTC, which contributed nearly $166 million, while BlackRock’s IBIT, the largest Bitcoin ETF, faced a $40.43 million outflow.

This recent inflow comes after a challenging stretch where investors withdrew $2.73 billion over the previous 10 days. However, year-to-date net outflows remain significant at approximately $5.4 billion. Analysts emphasize that a sustained trend of inflows is crucial for confirming a genuine recovery in Bitcoin prices.

Despite this one-day rebound, the overall picture for the year is still concerning, with net outflows highlighting ongoing investor caution. Nevertheless, the recent inflow has provided some relief for Bitcoin advocates, coinciding with its price recovery to around $61,700 after previously hitting 21-month lows below $58,000 earlier this week.

For a more robust recovery, consistent inflows into Bitcoin ETFs are necessary, as historically, such trends have often been associated with bull markets.

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