US-listed spot Bitcoin ETFs have seen their longest streak of net inflows this year, according to recent data from SoSoValue. This surge has lifted the funds' market capitalization to around 6.57% of Bitcoin's total supply, pushing the cryptocurrency closer to the $80,000 area.
The latest inflow streak is the strongest since last October and comes after several months of weakened demand. BlackRock's iShares Bitcoin Trust remains the main driver of the move, attracting roughly $1.6 billion during this period.
Ecoinometrics, a macro research platform, notes that capital is returning to the market as the funds' 30-day rolling net inflows have turned higher after nearing outflow territory. However, it remains uncertain whether this trend will lead to sustained gains, with Ecoinometrics suggesting that around 50,000 BTC in net inflows over 30 days would be required to validate a breakout.
The recovery in ETF demand is a positive sign for Bitcoin, as it provides a clearer support base than during the prior correction. With many recent ETF buyers close to breakeven due to their aggregate cost basis of around $81,000, a move through the $80,000 area could strengthen confidence among newer holders.