Crypto ETFs Attract $1.17 Billion Inflows as Bitcoin Hits $113,800

Crypto ETFs have attracted billions of dollars in investments as prices of major cryptocurrencies hit new highs. This surge in investor demand has been fueled by record-breaking price movements, with Bitcoin reaching a new all-time high of $113,800. This price surge triggered over $1 billion in short liquidations across the crypto market, indicating a strong bullish sentiment among investors. Long-term holders have also been accumulating Bitcoin, reaching a yearly high in accumulation, which further supports the bullish outlook.

Bitcoin and Ethereum ETFs have seen massive inflows, with US spot Bitcoin ETFs pulling in a total of $1.17 billion on Thursday. BlackRock’s iShares Bitcoin Trust (IBIT) attracted $448 million, while Fidelity’s Wise Origin Bitcoin Fund accounted for $324 million. This was the second-largest daily inflow for Bitcoin ETFs since their launch, with the only larger inflow occurring on Nov. 7, 2024, following Donald Trump’s US presidential election victory.

Spot Ethereum ETFs also saw robust activity, drawing $383.1 million in net inflows, their second-largest daily intake ever. BlackRock’s iShares Ethereum Trust ETF (ETHA) was the standout performer, recording a record $300.9 million in net inflows on Thursday alone. Despite the strong demand, traditional financial advisors remain hesitant, with major firms like Vanguard restricting access to these ETFs, creating a barrier for adoption.

The appetite for these ETFs is outpacing the issuance of the underlying assets. Ethereum’s net issuance over the past 24 hours was 2,110 ETH, worth around $6.33 million, which was dwarfed by the $383.1 million that was funneled into Ethereum ETFs that same day. Similarly, US spot Bitcoin ETFs purchased $28.22 billion worth of BTC in 2025 alone, while miners have only produced $7.85 billion worth of new supply. This growing imbalance could support higher prices in the long run.

Bitcoin short-sellers faced a significant blow as the cryptocurrency soared to fresh all-time highs, triggering over $1 billion in liquidations across the crypto market in 24 hours. More than $1 billion in short positions were wiped out, affecting 232,149 traders. Of this, approximately $678 million came from Bitcoin shorts, while $258 million were Ethereum-related. The sharp move took place after Bitcoin’s breakout to a new record price on Thursday.

Bitcoin’s surge to $113,800 on Thursday was driven by a spike in demand from long-term accumulation addresses, which held 248,000 BTC on Wednesday—a new yearly high and a 71% increase in 30-day demand since June 22. The last time accumulation reached this level was in December of 2024, when Bitcoin was trading at $97,000 and the all-time high of 278,000 BTC was recorded. The current uptick in demand despite higher prices suggests that confidence among strategic buyers is quite strong.

Demand momentum also sharply rebounded after previously dipping to 2024 Q4 lows. While cumulative demand, which includes selling pressure, is negative, its recent recovery points to buyers starting to regain some control. This shift implies that there is a foundational bullish interest in Bitcoin, with strategic accumulation outweighing short-term profit-taking behavior.

Market analyst Axel Adler Jr. pointed to the MVRV ratio as a key indicator to watch for potential profit-taking. When the MVRV hits 2.75, it typically signals an inflection point where investors begin to distribute holdings. Currently, this threshold aligns with a Bitcoin price of $130,900—around 17% higher than Thursday’s peak. This indicates that the rally may still have room to run before profit-taking begins.

Supporting this outlook, Glassnode reported a $4.4 billion increase in Bitcoin’s realized cap as the price surpassed $113,000. Unlike market cap, realized cap only rises when coins are moved at higher prices. This means that fresh capital is entering the market rather than simply driving speculative gains. Boosting the bullish sentiment even more, Milk Road co-founder his $150,000 price target for Bitcoin, due to a bullish cup and handle pattern seen last month. His post on X after Bitcoin’s move above $112,000 reflects the broader confidence that the current rally could extend before encountering major resistance or correction.