Bitcoin ETFs Hit a Three-Week Record: Are Institutions Making a Comeback?
<p class="text-left mb-4 "><a href="https://jrkripto.com/tr/analytics" target="_blank" rel="noreferrer" class="text-primary underline">Cryptocurrency </a>markets have begun to breathe after weeks of collapse. On Wednesday, US spot Bitcoin ETFs recorded their highest daily net inflow in three weeks, attracting $506.5 million in capital. This figure indicates that investor confidence, albeit fragile, is blossoming again. Relief after weeks</p><p class="text-left mb-4 ">According to <a href="https://jrkripto.com/tr/bitcoin-etfs" target="_blank" rel="noreferrer" class="text-primary underline">market data</a>, BlackRock's IBIT fund led this inflow, attracting $297.4 million alone, making it the undisputed leader of the day. The fact that six other funds, including Fidelity and Grayscale, also recorded positive flows and that no ETF experienced net outflows reveals the breadth of the picture. This is significant because since the beginning of the year, outflows from Bitcoin ETFs have outpaced inflows. In just the five weeks leading up to February 20, capital flowing out of the funds exceeded $3.8 billion. </p><p class="text-left mb-4 ">
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</p><p class="text-left mb-4 ">In this context, the picture is not just a one-day data point, but is read as a harbinger of a potential breaking point. Vincent Liu, Investment Director at Kronos Research, commented on the matter: </p><p class="text-left mb-4 "><em>"The inflows indicate that institutional investor sentiment has shifted towards cautious accumulation after a prolonged period of risk aversion. However, positions are still measured; this suggests that sentiment is still in the stabilization phase." </em></p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Ethereum and Solana also on the scene</h2><p class="text-left mb-4 ">The positive picture was not limited to Bitcoin alone. On Wednesday, Ethereum ETFs recorded a total net inflow of $157.1 million, while Solana ETFs saw $30.9 million inflows, the highest daily figure since December 15, 2025. XRP ETFs were also among the funds that recorded positive flows. This interest, spreading across the crypto market, strengthens recovery hopes for the sector as a whole. Optimism in prices as well</p><p class="text-left mb-4 ">In addition to fund flows, there was also significant movement in market prices. While Bitcoin fell below $63,000 at the beginning of the week, it gained 4.4 percent in the last 24 hours, approaching $68,300. Ether, meanwhile, surged 7.6%, surpassing the $2,000 mark again.</p><p class="text-left mb-4 ">Nvidia's strong earnings report on Wednesday also contributed to this movement. The semiconductor giant reported quarterly revenue of $68.1 billion, a 73% increase year-on-year, exceeding Wall Street expectations in all key indicators. This news boosted the crypto market along with technology stocks; the total crypto market capitalization rose 4.4% to $2.43 trillion.</p><p class="text-left mb-4 ">The Fear and Greed Index, however, rose from 5 at the beginning of the week to 11. Despite a slight recovery, the index is still in the "extreme fear" zone, indicating that the market has not fully calmed down.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">What do on-chain data say?</h2><p class="text-left mb-4 ">According to CryptoQuant data, spot demand for Bitcoin has increased for the first time since the end of November 2024. Its founder, Ki Young Ju, specifically highlighted that selling pressure on Coinbase has eased. The Coinbase premium index (an indicator used as a proxy for US institutional demand by measuring the price difference between Coinbase and Binance) has risen to 0.05 this week, emerging from deep negative territory on February 12th.</p><p class="text-left mb-4 ">Market analyst Lacie Zhang from Bitget Wallet noted this development, stating, "The 25% drop seen in on-chain exits and the apparent increase in demand since the end of November suggest the market may be approaching a bottom." According to Zhang, this picture presents an entry opportunity for long-term investors with an improved risk-return ratio.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Caution is needed</h2><p class="text-left mb-4 ">However, not every analyst shares this optimism. Illia Otychenko from CEX.IO attributed the decrease in selling pressure to a cooling of speculative activity rather than a fundamental change in demand. "Since the beginning of February, futures volume has fallen by about 44%, and spot volume by about 50% from its recent peaks. When leverage decreases and trading slows down, forced selling naturally decreases as well," she explained. According to Otychenko, the current structure is not yet sufficient to confirm a trend reversal; the market structure remains fragile, and demand has not yet truly revived. Nick Ruck, Director of LVRG Research, echoed this sentiment, stating: "While this rally seems to be fueled by news of reduced selling pressure attributed to Jane Street, it resembles a short-term relief rather than a fundamental change in direction. A true recovery in the crypto market depends on macroeconomic conditions stabilizing and ETF inflows transforming into sustained, structural institutional buying." Users on the prediction platform Myriad, however, remain optimistic: they have increased the probability of Bitcoin's next move taking the price to $84,000 from 31% to 46%. While this figure doesn't reflect the market's pulse, it clearly indicates the changing sentiment.</p>
