BlackRock’s Bitcoin ETF investors have regained profitability as Bitcoin has surged back over the $90,000 mark. This recovery signals a potential resurgence in market sentiment among key investors supporting Bitcoin’s growth this year.
Holders of the iShares Bitcoin Trust ETF, the largest spot Bitcoin fund managed by BlackRock, reported a total profit of $3.2 billion as of Wednesday, according to blockchain data platform Arkham.
“BlackRock IBIT and ETHA holders went from being up almost a combined $40 billion at their PnL peak on 7th October, down to $630 million 4 days ago,” referenced Arkham in a post on social media.
BlackRock IBIT Bitcoin ETF holders, unrealized profit and loss ratio, three-month chart. Source: Arkham
Bitcoin ETFs have recorded two successive days of inflows for the first time in two weeks, indicating a modest cumulative inflow of $21 million as of Wednesday. This development could be a positive sign for Bitcoin, which has had no positive inflows noted by K33 Research for 2025.
The enthusiasm from spot Bitcoin ETFs has significantly motivated Bitcoin’s upward trajectory in 2025, as noted by Geoff Kendrick, who leads digital assets research at Standard Chartered.
Bitcoin’s recent uptrend is linked to rising expectations around an interest rate cut from the US Federal Reserve, with probabilities increasing by 46% in just one week.
Markets currently see an 85% chance for a 25 basis point interest rate reduction, rising from 39% last week. Despite previous corrections that pushed Bitcoin ETF holders below their cost basis of $89,600, many investors are viewed as long-term holders, and hence they’re not hastily exiting their positions.
