Spot Bitcoin ETFs in the US recorded a net inflow exceeding $1.7 billion over two trading days. On September 21, inflows reached $714.75 million, following a record-breaking $998.95 million the previous day. Total net assets under management for these funds have climbed to $111 billion, marking a 56% increase from the June low of $71 billion.
BlackRock’s IBIT led the inflows with $350 million, while Fidelity’s FBTC attracted $257 million. According to Bloomberg Intelligence analyst James Seyffart, the average Bitcoin ETF investor has returned to profitability for the first time since January, with an estimated cost basis of $81,722 per coin. Bitcoin prices rose nearly 14% over the past week, stabilizing near $86,500.
Market indicators also show signs of a trend shift. CryptoQuant analyst Gaah noted that the 30-day moving average of the MVRV indicator exited the accumulation zone for the second time in 2026. The expert stated that surpassing the annual high of 1.62 could signal the end of a bearish trend, potentially setting a target of $126,000 for the cryptocurrency.
Recent market activity follows reports from JPMorgan analysts, who suggested that reduced demand for hedging in Bitcoin ETFs could provide stronger support for the asset compared to gold. Bitcoin continues to trade around $86,190, with prices briefly exceeding $87,000 on September 23. Most top-10 cryptocurrencies by market capitalization have also followed this upward trend.
