Sentiment across the cryptocurrency market remains subdued, even as capital inflows continue to dominate recent activity. Bitcoin has emerged as the primary beneficiary, with U.S. spot Bitcoin exchange-traded funds (ETFs) attracting strong investor demand. Total inflows climbed to $358.1 million on Thursday, marking the second-largest daily inflow recorded since early March.
BlackRock's iShares Bitcoin Trust (IBIT) led the activity, purchasing 3,740 BTC worth $269.34 million, its highest single-day inflow since March 4, 2026. Fidelity’s FBTC followed with 740.71 BTC valued at $53.33 million, while Grayscale’s GBTC added 162.92 BTC worth $11.73 million. This surge came after two consecutive days of heavy outflows totaling approximately $283.64 million, which occurred while Bitcoin traded near $69,000. At press time, Bitcoin had rebounded to $72,000.
The latest inflows point to a renewed wave of participation from both institutional and retail investors. Data shows corporate Bitcoin holdings have risen from $118.325 billion on March 28 to $128.419 billion, reflecting over $10 billion in fresh capital. Retail demand in the U.S. has also strengthened, with CryptoQuant’s Coinbase Premium Index turning positive for the first time since March 17, indicating renewed bullish positioning.
Despite improving U.S. sentiment, broader global spot market activity shows divergence. According to CoinGlass, weekly spot exchange netflows recorded a sharp outflow of $372 million, the largest weekly outflow this year and the highest since November 2025, underscoring persistent selling pressure in global markets.
Separately, BlackRock recorded $589.16 million in combined Bitcoin and Ethereum ETF inflows over four trading sessions this week, lifting total assets in its crypto ETFs to $63.55 billion. The iShares Bitcoin Trust accounted for $474.50 million in net inflows, a 2,794% increase from the prior week. BlackRock's iShares Ethereum Trust (ETHE) also reported a reversal, attracting $114.66 million in net inflows after three weeks of cumulative outflows totaling about $418.69 million. On Thursday, the Ethereum fund posted a daily inflow of $90.94 million, its highest since January 15, 2026.
