U.S. spot Bitcoin exchange-traded funds attracted $730.9 million in net inflows on Thursday, their largest one-day intake since Jan. 14, as Bitcoin returned above $81,000 and demand concentrated heavily in BlackRock’s IBIT fund.
BlackRock’s iShares Bitcoin Trust, traded under the ticker IBIT, accounted for roughly $454 million of the day’s total, according to the fund-flow data provided. Six other U.S. spot Bitcoin ETFs also recorded positive flows, including funds managed by Fidelity and Grayscale. The broad participation matters more than a single large allocation: it shows that the day’s demand was spread across several issuers rather than being confined to one product.
The inflow surge followed a strong August for the U.S. spot Bitcoin ETF market, which collected $3.5 billion during the month. That was the group’s best monthly result since September 2025, extending a recovery in demand after periods when fund flows had swung sharply between inflows and redemptions.
Bitcoin traded near $80,950 in the market snapshot after briefly moving back above $81,000 late Thursday. The price recovery coincided with the ETF inflows but does not establish a direct causal link; Bitcoin’s market remains influenced by derivatives positioning, broader risk sentiment and macroeconomic expectations alongside spot fund activity.
BlackRock fund leads a broad buying day
IBIT’s roughly $454 million in net inflows represented more than 60% of Thursday’s total across the U.S. spot Bitcoin ETF sector. The fund has consistently been among the dominant vehicles for U.S. ETF-based Bitcoin exposure because of its scale, liquidity and role in institutional portfolio trading.
Fidelity and Grayscale products were among the six additional funds that posted inflows, indicating that traders used several routes to gain regulated spot Bitcoin exposure. Net flows measure the value entering a fund after redemptions are subtracted, offering a daily view of whether ETF shares are being created or redeemed.
A $730.9 million day is substantial against the recent monthly figures. If flows at that scale persisted, they would quickly exceed August’s $3.5 billion monthly total. Daily ETF demand is rarely steady, though, and large inflows can reverse when Bitcoin’s price moves sharply or when macroeconomic expectations change.
The latest figures place renewed attention on whether the August rebound represents a sustained return of net demand or a shorter period of buying after Bitcoin’s earlier volatility. The answer will depend less on one day’s result than on whether multiple issuers continue reporting net creations through changing market conditions.
Rate outlook returns to the foreground
The trading session also unfolded after remarks from Christopher Waller, a governor at the U.S. Federal Reserve, linked the outlook for interest rates to continued progress on inflation. Markets have closely tracked comments from Fed officials because lower policy rates generally reduce the appeal of cash-like yields and can support demand for risk-sensitive and alternative assets.
Waller’s stance keeps incoming inflation reports central to the near-term market calendar. A faster-than-expected slowdown in underlying price pressures could strengthen expectations for rate cuts, while stubborn inflation would likely delay them. Either outcome can affect Bitcoin, although its response has varied considerably across different market cycles.
The supplied material described the Federal Reserve as waiting for greater confidence that inflation is moving toward its 2% target before reducing borrowing costs. That framework means the next consumer-price and core-inflation readings may carry more weight than routine market commentary, particularly after the sharp ETF flow increase.
Bitcoin’s move above $81,000 came as traders reassessed those macro conditions. The level has become a visible short-term price marker, though round-number levels tend to attract attention precisely because many market participants watch them, rather than because they provide a reliable signal on their own.
Crypto-linked shares rise alongside Bitcoin
Crypto-linked public companies also rallied on Thursday. Strategy rose 17.6% to $144.80, Coinbase gained 10% to $192.70, and Circle climbed 16.5% to $103.23, according to the market data provided.
The moves show how equity-market exposure to digital assets can amplify a shift in Bitcoin sentiment. Strategy’s valuation is closely tied to the performance of its Bitcoin holdings and financing strategy. Coinbase’s business is sensitive to trading activity, asset prices and stablecoin-related revenue. Circle’s shares can respond to sentiment around stablecoin use and the regulatory environment as well as cryptocurrency prices.
Those different business models mean the stocks should not be treated as interchangeable proxies for Bitcoin. Their sharp gains during the same session nonetheless suggest that the positive tone extended beyond ETF flows and into listed companies with direct exposure to the sector.
Gold correlation rises as stock link fades
Bitcoin’s 90-day correlation with gold rose above 50%, reaching its highest level in six years, while its correlation with the S&P 500 fell close to zero, according to the supplied correlation measures. Correlation ranges from -1 to 1, with higher positive readings indicating that two assets have tended to move in the same direction over the measured period.
The figures suggest Bitcoin had recently traded more in line with gold than with U.S. equities. They do not establish Bitcoin as a dependable substitute for gold or a consistent hedge during market stress. Correlations can change quickly, especially when Bitcoin faces asset-specific events such as ETF flow swings, liquidations, regulatory developments or shifts in leverage.
A near-zero correlation with the S&P 500 also should not be read as a permanent break from equities. Bitcoin has at various points moved closely with technology and growth shares, particularly when global liquidity and interest-rate expectations dominated trading. The current readings instead describe a recent 90-day pattern during a period of renewed ETF demand and heightened focus on U.S. monetary policy.
The immediate test for the ETF rally will be whether strong flows continue through the next inflation data releases and whether Bitcoin can retain support near the $80,000 area without relying on a single issuer’s purchases.
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