Spot Bitcoin ETFs see a sharp increase in daily net inflows.

Highlighting the agency's initial positioning

US spot Bitcoin exchange-traded funds (ETFs) recorded a net inflow of approximately $457 million (KRW 675.6745 billion) on the 19th, marking the strongest single-day inflow in over a month. This was the result of renewed demand from institutional investors amid growing expectations of a shift in the macro environment.

The inflows were led by Fidelity's Wise Origins Bitcoin Fund (FBTC), which recorded a net inflow of approximately $391 million (KRW 578.0935 billion) on the day, accounting for the majority of total inflows. BlackRock's iShares Bitcoin Trust (IBIT) also saw an inflow of approximately $111 million (KRW 164.1135 billion). Conversely, some products, such as Bitwise's BITB and ARK Invest/21Shares' ARKB, saw net outflows.

With this inflow, cumulative net inflows into US spot Bitcoin ETFs exceed $57 billion, bringing total net assets to over $112 billion. This represents approximately 6.5% of Bitcoin (BTC)'s total market capitalization. Given the volatile nature of ETF fund flows over the past month, with inflows and outflows, this rebound is interpreted as a signal of market directionality.

Vincent Liu, Chief Investment Officer at Kronos Research, characterized the recent ETF inflows as "early positioning," rather than a late-stage overheating phase. He explained that with interest rate expectations easing, Bitcoin is once again taking on the characteristics of a macro liquidity transaction, explaining that while political factors shape the mood, actual capital flows are driven by macroeconomic conditions. However, he added that the flow is not smooth and can be volatile due to price and liquidity fluctuations.

On the same day, US President Donald Trump fueled market expectations by announcing that he was considering a Federal Reserve chairman who favors interest rate cuts as his next nominee. Lower interest rates typically favor riskier assets like cryptocurrencies.

Meanwhile, on-chain data analytics firm Glassnode analyzed that approximately 6.7 million Bitcoins (BTC) are currently in a loss zone. With Bitcoin prices facing supply resistance near past highs, demand in spot and derivatives markets remains selective. Glassnode predicts that Bitcoin will likely continue to move within a limited range between support and upper resistance around $81,000 until new liquidity inflows or major selling pressure is absorbed.

Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr