Bitcoin ETFs Draw $1.7B in Two Days as BTC Tops Cost Basis

U.S. spot Bitcoin exchange-traded funds recorded more than $1.7 billion in net inflows over Monday and Tuesday as Bitcoin traded above an estimated ETF investor cost basis of $81,722 per coin.

Monday’s $999 million Bitcoin ETF inflow was followed by $715 million on Tuesday, according to SoSoValue data. Total net assets across U.S. spot Bitcoin ETFs reached about $111 billion on Tuesday, up roughly 56% from a 2026 low near $71 billion on June 30 and about 13% below the 2026 high of $128 billion on Jan. 14.

BlackRock’s iShares Bitcoin Trust (IBIT) led Tuesday’s inflows with $350 million. Fidelity’s Wise Origin Bitcoin Fund (FBTC) had $257 million, and the Grayscale Bitcoin Mini Trust recorded $99 million, according to Farside Investors data. The new money was concentrated in the largest products.

Bitcoin traded around $86,000 on Tuesday and briefly rose above $87,000 on Wednesday. At the time of publication BTC was trading at $86,467, up about 1.2% over 24 hours and 13.8% over seven days, per CoinGecko.

ETF analyst James Seyffart observed that “The average Bitcoin ETF holder was back above water for the first time since January” after Bitcoin moved above his estimated ETF cost basis of $81,722 per coin.

The two-day inflow total was the largest consecutive net intake for the U.S. spot Bitcoin ETFs since activity in January. Market participants monitored both fund-level flows and price action as indicators of demand for spot Bitcoin exposure via ETFs.