U.S. spot Bitcoin ETFs have recorded five consecutive weeks of positive inflows as downside hedges unwind across derivatives markets, signaling a broadening return of institutional demand.
Institutional appetite returns“Of these three, the pending passage of the CLARITY Act is most likely to be driving institutional buying as it reduces regulatory hurdles and paves the way for much broader crypto adoption,” Mei told Decrypt.
The inflow streak coincides with a structural shift in derivatives and options positioning.
After months of persistent put-premium, protection is being unwound rather than added, suggesting an easing of cautious behavior.
Bitcoin has also reclaimed two key on-chain thresholds: the True Market Mean at $78,200 and the Short-Term Holder Cost Basis at $79,100, clearing the average acquisition price of all actively transacted supply in a single leg higher, Glassnode analysts said.
The next major supply zone sits near the Active Realized Price at $85,200.
The ETF inflows carry structural weight even accounting for institutional hedging activity. Andri Fauzan Adziima, research lead at Bitrue Research Institute, told Decrypt that while some institutions hedge ETF exposure with short perpetuals to run delta-neutral strategies, the net effect remains genuine spot demand that tightens available supply—a sign of market maturity rather than a dilution of the bullish signal, he added.
Looking ahead
