US-listed spot Bitcoin exchange-traded funds (ETFs) have seen a turnaround after a five-day streak of outflows, achieving a remarkable $75.4 million in net inflows as Bitcoin soared back to the $92,000 mark.

According to data from Farside Investors, this rebound was spearheaded by BlackRock’s iShares Bitcoin Trust (IBIT), which attracted $60.6 million on Wednesday, although it still has to recover from previous outflows amounting to $523 million from the day prior. The Grayscale Bitcoin Mini Trust ETF (BTC) also reported a positive day with $53.8 million in inflows.

In contrast, the combined outflows for Fidelity and VanEck’s Bitcoin ETFs totaled $39 million for the same day.

This price recovery comes as Bitcoin reclaimed the $92,000 level, suggesting a degree of stabilization following a week marked by a sharp decline.

Data from CoinGecko indicates that BTC reached $92,000 on Wednesday, subsequently slipping to as low as $88,500 by Thursday. Currently, it is trading at approximately $91,700.

Bitcoin ETF flows, in USD million. Source: Farside Investors

ETFs Lose Almost $3 Billion in November

The five-day outflow pattern, which involved over $868 million on November 13 and close to $500 million on November 14, mirrored trends in global cryptocurrency exchange-traded products recently.

The data breakdown from Farside shows that this selling trend was concentrated, with Fidelity’s FBTC facing consecutive redemptions totaling $132.9 million and $119.9 million last week. Additionally, issuers such as Bitwise, Ark, and Invesco experienced multiple days of negative flows.

As previously reported, cryptocurrency ETPs witnessed $2 billion in outflows last week, marking the highest weekly outflow since February, with US-based ETPs accounting for 97% of these losses.

Over the course of November, US spot Bitcoin ETFs have nearly shed $3 billion, on track to exceed February’s figures as the worst month for this category, where these ETFs recorded $3.56 billion in outflows.

While the recent inflow of $75 million is modest compared to the larger outflows, it signifies a potential resurgence of investor interest. Additionally, it has been noted that ETF trading volume surged to $6.89 billion on Wednesday, noting an increase of almost 18% from the previous day.

This trend indicates that despite a general outflow pattern, not all investors are exiting the market, with some seemingly seizing the opportunity to invest ahead of potential catalysts as the year ends.