Bitcoin ETF Sentiment Shifts Amid Price Surge
Investors in BlackRock’s Spot Bitcoin exchange-traded fund (ETF) are beginning to recover after Bitcoin climbed above $90,000. This may indicate a change in sentiment among one of the key groups influencing the market this year.
According to blockchain data platform Arcam, BlackRock’s iShares Bitcoin Trust ETF (IBIT) bounced back to total gains of $3.2 billion as of Wednesday.
“BlackRock IBIT and ETHA holders saw combined gains peak at about $40 billion on October 7th, but that figure dropped to just $630 million four days ago,” Arcam noted in a post on X. “Currently, the average purchase price across all BlackRock ETFs is hovering around breakeven.”
Though Bitcoin ETFs might face slower sales as relief increases for ETF holders, this is still a notable improvement from the outflows of $903 million recorded on November 20th.
For the first time in two weeks, Bitcoin ETFs have seen two consecutive days of inflows, totaling a modest $21 million as reported by Pharcyde Investors.
This is quite encouraging for Bitcoin, particularly since BlackRock’s Bitcoin ETF was the only fund to achieve net inflows in 2025, according to K33 Research.
Jeff Kendrick, the Global Head of Digital Asset Research at Standard Chartered, shared that inflows from Spot Bitcoin ETFs were pivotal in driving Bitcoin’s momentum in 2025.
BlackRock, recognized as the world’s largest asset management firm, reported $13.5 trillion in assets under management as of Q3 2025.
Earlier, it was noted that Bitcoin ETF investors are no longer feeling pressure, especially as expectations grow regarding potential interest rate cuts.
The larger group of spot Bitcoin ETF investors is also experiencing gains following Bitcoin’s rise above the crucial flow-weighted cost basis of $89,600, a level they had lost just two weeks ago.
This comeback in Bitcoin’s price aligns with rising expectations for a rate cut ahead of the U.S. Federal Reserve’s upcoming meeting on December 10th, with the likelihood increasing to 46% within just a week.
According to CME Group’s FedWatch tool, the market has now priced in an 85% chance of a 25 basis point cut, up from 39% the previous week.
Glassnode analyst Sean Rose indicated that a price correction occurred two weeks ago when Bitcoin ETF holders dropped to nearly $89,600 on a flow-weighted cost basis, reflecting paper losses for many investors.
Still, many ETF holders are categorized as “long-term allocators,” which means “just because it’s underwater doesn’t mean they’re going to exit immediately,” Vincent Liu, the chief investment officer at quantitative trading firm Kronos Research, mentioned to Cointelegraph.
