U.S. spot Bitcoin exchange-traded funds recorded nearly $240 million in net inflows Thursday, breaking a brutal six-day stretch that saw investors yank more than $2 billion from the products.

The inflows were led by BlackRock’s IBIT ($112.4 million), Fidelity’s FBTC ($61.6 million), and Ark 21Shares’ ARKB ($60.4 million), according to Farside Investors data, offering a brief reprieve after one of the worst redemption weeks since the funds launched in January.

The collective turnaround follows a punishing week that began last Friday, when the funds hemorrhaged $470.7 million in a single day.

Outflows persisted through the week, reaching $488.4 million on Monday and easing to $191.6 million the next day, before hitting a record $566.4 million on Tuesday, when IBIT saw no inflows and FBTC lost $356.6 million.

Ethereum ETFs followed a similar trajectory to the BTC funds, recording $12.5 million in net inflows Thursday after nearly a week of exits. ETH is trading around $2,235, down 4.5% in the past 24 hours, CoinGecko data shows.

“Bitcoin ETFs snapping the outflow streak is another sign that accumulation is getting stronger as the asset trades around the $100,000 level,” Yaroslav Patsira, fractional director at CEX.IO, told Decrypt. “Long-term holders recently eased their selling pressure, while whale wallets holding over 1,000 BTC reportedly added more than 10,000 BTC lately.”

Four consecutive sessions of roughly $1.3 billion in net outflows from U.S. spot Bitcoin ETFs turned “one of 2025’s strongest tailwinds into a near-term headwind,” according to a QCP Capital report published Wednesday.

The fresh inflows hint at renewed institutional appetite even as Bitcoin, down 20% from last month’s $126,000 peak, trades at $100,257, a 2.8% drop in the past 24 hours, according to CoinGecko data.

On prediction market Myriad, users place just a 26% chance on Bitcoin reaching another all-time high by year end.

Disclosure: Myriad is owned by Decrypt’s parent company, Dastan.

“It’s natural that this selling pressure would eventually fade,” Nic Puckrin, crypto analyst and co-founder of The Coin Bureau, told Decrypt. “As the sellers get flushed out of the market and the price falls, BTC is starting to look like a more attractive buying opportunity again.”

The prevailing expectation remains that the bull market hasn’t ended, Puckrin added, suggesting buyers are trying to capitalize on what could be “the last leg of the pump.”

QCP Capital said Bitcoin’s dip below $100,000 on Tuesday pointed to weaker risk appetite from a firmer dollar and Fed uncertainty, and that the $100,000 psychological threshold is a key line in the sand that could quickly flip sentiment if ETF flows stabilize.

Ray Youssef, Co-founder and CEO of crypto app NoOnes, told Decrypt that while ETF inflows turning positive is encouraging, “it’s too early to talk about a trend reversal,” noting the modest volumes and negative weekly average point to “a technical recovery rather than a return to sustained demand.”