Bitcoin (BTC-USD) climbed above $80,200 in early Asian Thursday dealings, a 4.8% intraday gain, after spot Bitcoin exchange-traded funds in the United States recorded combined net inflows of $2.42 billion on Wednesday — the third-largest one-day total since the products launched in January 2024. The rally pushed the cryptocurrency to its highest level in nine sessions and reaccelerated a recovery that began when the FOMC statement landed at 2 p.m. ET.
BlackRock's iShares Bitcoin Trust (IBIT) absorbed $1.18 billion alone — the second-largest day in the fund's history — while Fidelity's Wise Origin (FBTC) added $612 million and Bitwise (BITB) drew $214 million. Grayscale's GBTC saw a modest $48 million outflow, continuing its multi-quarter pattern of net redemptions even as cohorts rotated into lower-fee competitors. Total spot Bitcoin ETF assets under management crossed $148 billion.
Macro Tailwind From the FOMC
The FOMC held the federal funds target at 3.50%-3.75% on Wednesday and the updated Summary of Economic Projections trimmed 2026 dot-plot expectations to one cut from two. While the median dot was hawkish on the surface, traders zeroed in on Chair Powell's acknowledgement that "downside risks to employment have increased modestly," interpreted as the foundation for a Q3 cut. Real 10-year TIPS yields fell six basis points to 1.91%, normally a mechanical tailwind for non-yielding assets.
Galaxy Digital head of research Alex Thorn noted that "the combination of $385 billion of Mag 4 capex commitments — many of which require energy-dense buildouts — plus a Fed that has stopped tightening creates the cleanest macro backdrop for Bitcoin since November 2024." On-chain data from Glassnode showed long-term holder supply increasing by 14,200 BTC over the prior week, the strongest accumulation since February.