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Bitcoin ETFs approach $1B in seven-session inflow run

Bitcoin ETFs approach $1B in seven-session inflow run
Cointelegraph TeamCointelegraph TeamCointelegraph

US-listed spot Bitcoin exchange-traded funds (ETFs) have totaled about $1 billion in net inflows over seven straight trading sessions.

Spot Bitcoin ETFs recorded $68.99 million in net inflows on Wednesday, bringing cumulative inflows since July 14 to $999.38 million, according to data from SoSoValue.

The current streak remains below April’s nine-session run, when spot Bitcoin ETFs attracted $2.1 billion in net inflows.

Chart
Daily flows in US-listed spot Bitcoin ETFs since July 14. Source: SoSoValue

Wednesday’s inflows were below Tuesday’s $203 million as Bitcoin price fell below $66,000. At publishing time, BTC traded at about $65,729, down roughly 0.3% over the past 24 hours, according to CoinGecko. The Crypto Fear & Greed Index, a market sentiment gauge, slipped to a reading of 31 on Thursday from 33 on Wednesday.

“The consistency suggests institutions are rebuilding long-term Bitcoin exposure through regulated ETFs,” Markus Levin, co-founder of XYO, a decentralized verification protocol, told Cointelegraph. Levin said improving macroeconomic sentiment, expectations for easier monetary policy, cooling inflation and stronger equity markets have encouraged investors to rotate back into risk assets.

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Cointelegraph Team

Cointelegraph Team

Cointelegraph

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