On Tuesday, U.S. spot bitcoin exchange-traded funds saw their largest single-day net inflows since Jan. 17 — $936 million, to be exact. Analysts say this reflects "growing conviction" in bitcoin as a hedge against ongoing geopolitical and macroeconomic tension.
Positive flows were seen across 10 bitcoin ETFs yesterday, led by Ark & 21Shares' net inflows worth $267.1 million. This was followed by Fidelity's FBTC seeing $253.8 million inflows, and $193.5 million moving into BlackRock's IBIT, according to SoSoValue data. Over the last three straight days of positive flows, U.S. bitcoin funds saw net inflows exceeding $1.4 billion.
"The ETF inflows signals a structural shift: institutional capital is rotating back into crypto, driven by macroeconomic dislocations, favorable supply dynamics, and Bitcoin’s growing acceptance as a strategic asset class," said Rachael Lucas, crypto analyst at BTC Markets.
The substantial net inflows into spot bitcoin ETFs coincided with bitcoin's resilience against widespread market uncertainty amid macroeconomic pressures. Bitcoin is up 6.4% in the past 24 hours, trading at $93,765 as of publication time.
Presto Research Analyst Min Jung said there's revived interest in bitcoin as a potential hedge against inflation and geopolitical risk. "While it may still be premature to call Bitcoin a full-fledged 'safe haven,' its relatively muted drawdown during recent global risk events suggests it's increasingly being perceived as a form of 'digital gold,'" Jung said.
Bitcoin's appeal was further driven by a weakening U.S. dollar, persistent inflation concerns, and expectations of renewed Federal Reserve quantitative easing, BTC Markets' Lucas said. "Spot bitcoin ETFs now hold over $103 billion in bitcoin, significantly reducing circulating supply and creating sustained upward price pressure," they added.
While the Trump-led U.S. tariff policies weighed heavy on investors, traders saw signs of a potential cooldown of the tension between the U.S. and China.
Treasury Secretary Scott Bessent said he expects a "de-escalation” in President Donald Trump’s trade war with China in the “very near future,” CNBC reported Tuesday. The same day, Trump reversed his earlier statements, affirming he has "no intention" of firing Federal Reserve Chair Jerome Powell — alleviating investor concerns of market uncertainty.
Looking ahead, further weakening of the U.S. dollar and dovish signals from the Federal Reserve will likely drive more inflows into BTC ETFs, Bitget COO Vugar Usi Zade said. "Global liquidity, geopolitical tensions, and pro-crypto U.S. policies, such as the Bitcoin Act, will also shape investor confidence and ETF demand," they added.
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