Rising prices lift IBIT holders into $3.2B in unrealized gains, signaling renewed confidence ahead of key Federal Reserve decisions
Bitcoin’s rebound above $90,000 has pushed BlackRock’s spot Bitcoin ETF investors back into profit, signaling a potential shift in market sentiment after weeks of pressure. As flows stabilize and expectations for U.S. interest rate cuts intensify, the ETF cohort driving much of Bitcoin’s 2025 rally appears to be regaining momentum.
BlackRock IBIT Investors Turn Positive Again
Blockchain analytics platform Arkham reported that holders of the iShares Bitcoin Trust (IBIT) — the world’s largest spot Bitcoin ETF — returned to a cumulative unrealized profit of $3.2 billion on Wednesday.
According to Arkham, “IBIT and ETHA holders went from being up nearly $40 billion at their peak to just $630 million four days ago.”
The average purchase price of BlackRock ETF investors is now nearly break-even, easing selling pressure.
The shift comes after the ETF sector logged improved inflow patterns, avoiding the heavy $903 million outflows seen on Nov. 20. For the first time in two weeks, U.S. Bitcoin ETFs recorded two consecutive days of inflows, totaling $21 million, according to Farside Investors.
Industry research suggests that BlackRock’s product was the only Bitcoin ETF with net positive inflows in 2025, reinforcing its influence over price momentum.
ETF Demand Rebounds as Market Conditions Improve
BlackRock, managing $13.5 trillion in assets, remains a pivotal force in the crypto ETF arena. Analysts at K33 Research and Standard Chartered have repeatedly emphasized that spot Bitcoin ETF inflows were the primary driver of BTC’s surge to record highs this year.
With ETF investors no longer underwater, forced selling pressure has eased significantly.
The wider ETF investor base has also returned to profit as Bitcoin reclaimed the $89,600 flow-weighted cost basis — a level lost during the recent correction.
Interest-Rate Expectations Fuel Market Recovery
Bitcoin’s price resurgence aligns with shifting expectations for U.S. monetary policy. According to CME Group data, markets now assign an 85% probability of a 25-basis-point rate cut at the Federal Reserve’s Dec. 10 meeting — up dramatically from 39% a week earlier.
Rising odds of rate cuts have boosted risk-asset appetite, supporting Bitcoin’s recovery.
Two weeks earlier, falling prices briefly pushed ETF investors into unrealized losses, with analysts noting increased fragility in short-term market structure. The regained profitability now indicates stronger footing as December approaches.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.