Bitcoin reaches $86,000, returning US spot ETF investors to profitability

Bitcoin's recent rally toward $86,000 has restored profitability for US spot Bitcoin ETF investors, reversing losses incurred during the market downturn earlier this year. According to Bloomberg Intelligence, the average cost basis for these investors is approximately $81,722, allowing them to move back into the green. While cumulative net inflows into these ETFs remain below their October 2025 peak of $61.19 billion, the price recovery has effectively offset the $780 million in unrealized losses recorded as of September 18.