Bitcoin ETFs could turn net positive for the year with one strong inflow day, says analyst

A single day of strong net inflows could be enough to erase all of this year's cumulative outflows from spot Bitcoin ETFs, according to Bloomberg analyst Eric Balchunas. He noted that these ETFs have attracted about $2.5 billion in net inflows this month. BlackRock's IBIT, he added, has already achieved its goal of being net positive for the year and ranks in the top 2% of all ETFs for fund inflows. Balchunas also highlighted Bitcoin's resilience over the past six months amid a price crash and intense media criticism. He contrasted this with the reaction to a 40% drop in gold prices about a decade ago, when a third of investors sold off. While calling that a natural response to a sharp asset decline, he described Bitcoin's behavior as abnormal.