Bitcoin Returns to Inflows With $159M as Zcash ETF Draws $46.6M

Blackrock Drives Bitcoin Rebound

Institutional demand returned to bitcoin on Thursday, offering some relief after a bruising stretch for the largest digital asset.

Bitcoin ETFs pulled in $159.45 million, with Blackrock’s IBIT accounting for more than the day’s net gain. The fund attracted $183.66 million. Fidelity’s FBTC recorded a $16.64 million outflow, while Vaneck’s HODL lost $7.57 million.

Daily trading value reached $2.81 billion, with net assets closing at $95.19 billion.

The rebound gives investors another data point to weigh as bitcoin’s price rose by almost 6% to hit $80,000, following a volatile week shaped by tighter monetary policy and shifting risk appetite.

Bloomberg Senior ETF Analyst Eric Balchunas also pointed to a much larger long-term opportunity for the asset class in an interview with Bitcoin Magazine. He said bitcoin ETFs could eventually reach three times the assets held in gold ETFs as younger investors accumulate wealth and increasingly view bitcoin as a store of value.

“I do believe that bitcoin ETFs will triple gold in assets,” Balchunas said, citing the generational shift in investor preferences.

Ether Remains Under Pressure

Ether ETFs failed to join bitcoin’s recovery. The category recorded $39.24 million in net outflows, led by a $42.86 million exit from Blackrock’s ETHA.

Fidelity’s FETH attracted $1.83 million, while Vaneck’s ETHV added $1.79 million. Those inflows softened the decline but left the group firmly in negative territory. Trading activity reached $680.45 million, with net assets ending the session at $15.42 billion.

XRP Slips While Hype Finds Fresh Demand

XRP ETFs also moved lower, posting $5.15 million in net outflows.

21Shares’ TOXR lost $3.78 million, while Canary’s XRPC saw another $1.37 million leave the fund. Daily trading value reached $19.69 million, with net assets closing at $1.39 billion.

HYPE ETFs moved the other way, attracting $4.25 million. 21Shares’ THYP brought in $2.40 million, while Bitwise’s BHYP added $1.86 million. Solana ETFs recorded no net flows for the session.

Zcash ETF Makes a Strong Showing

The standout move came from Zcash.

ZEC ETFs attracted $46.56 million, entirely through Grayscale’s ZCSH, giving the recently launched product its second-largest daily inflow since launch.

Grayscale has also announced a 3-for-1 forward stock split for ZCSH. The record date is Sept. 28, with additional shares due to be distributed Sept. 29. The fund is expected to begin trading at its post-split price on Sept. 30.

Shareholders will receive two additional shares for every share held, while the total value of their position remains unchanged at the time of the split.

Thursday’s flows showed a market willing to re-enter bitcoin while selectively allocating capital to newer crypto products, even as ether and XRP continued to face withdrawals.