US Spot Bitcoin ETFs Post $32.1M Inflows, Ending Four-Session Outflow Streak
Key Takeaways
- •US spot Bitcoin ETFs attracted $32.1 million in net inflows on Wednesday, ending a four-session streak during which the funds lost more than $500 million combined.
- •The positive Bitcoin ETF inflows occurred even as the cryptocurrency's price declined to roughly $63,300 during US trading hours, signaling potential sustained institutional interest.
- •Spot Ether ETFs recorded $18.65 million in daily outflows but have gathered $342.9 million in monthly net inflows, surpassing Bitcoin ETFs' $204.7 million over the same period.
- •Cumulative net inflows across all US spot Bitcoin ETFs have reached $51.36 billion since the eleven funds launched in January 2024.
- •The Crypto Fear & Greed Index stood at 28 on Thursday, reflecting a "fear" reading that has nonetheless improved from "extreme fear" levels observed one month earlier.
US-listed spot Bitcoin exchange-traded funds (ETFs) ended a four-session outflow streak on Wednesday, recording $32.1 million in net inflows. The turnaround came after the funds posted more than $500 million in combined outflows over four consecutive trading sessions, according to data from SoSoValue and CoinGecko.
The positive inflow day materialized even as Bitcoin briefly fell to approximately $63,300 during US trading hours. The inflow-against-price-decline dynamic is notable because ETF flows have been viewed as a proxy for institutional sentiment since the eleven spot Bitcoin funds launched in January 2024.
On a weekly basis, US spot Bitcoin ETFs have recorded net outflows of $29.29 million. Monthly net inflows have reached $204.7 million, while cumulative net inflows across the funds stand at $51.36 billion.
While Bitcoin ETFs showed signs of recovery, US-listed spot Ether ETFs logged net outflows of $18.65 million on Wednesday. Despite the daily decline, spot Ether ETFs have attracted $342.9 million in net inflows so far this month, well above the $204.7 million recorded by spot Bitcoin ETFs over the same period. The nine US-listed spot Ether ETFs began trading in July 2024.
At the time of publication, Bitcoin traded at $63,990, down 0.2% over the past 24 hours and 2.5% over the previous seven days. Ether traded at $1,902, down 1.1% over the past seven days.
The Crypto Fear & Greed Index remained in a "fear" reading on Thursday with a score of 28, down one point from Wednesday, although sentiment had improved from "extreme fear" a month ago.
Related: Bitcoin price wedged into 'most divided' FOMC as Iran war spikes oil prices 8%