US spot Bitcoin exchange-traded funds continued attracting capital on Wednesday, even as Bitcoin gave back part of its latest rally. Net inflows reached $32.4 million on September 23, according to preliminary Farside Investors data, extending the funds' positive streak to five consecutive trading sessions. BTC slipped below $84,000 after trading above $87,000 earlier, and the day's intake slowed sharply from the prior session's pace, drawing attention to the next round of flow data. Spot Bitcoin ETFs, which have traded in the US since their January 2024 launch and hold bitcoin directly, are day to day as a gauge of institutional participation in the asset.

Five-Day Inflow Run Reaches $2.34 Billion

The latest inflow followed several materially stronger sessions. US spot Bitcoin funds drew roughly $999 million on September 21, a near-$1 billion intake to open the week, then added $714.7 million on September 22, keeping institutional demand positive throughout Bitcoin's rebound.

The five-session sequence began with $159.5 million on September 17. Inflows rose to $433 million on September 18 before accelerating at the start of this week. Including the preliminary September 23 figure, cumulative Bitcoin ETF inflows across the five trading days total approximately $2.34 billion. Farside's daily tallies are preliminary and can be adjusted once issuers publish final flow data for each session. Wednesday's $32.4 million was the smallest daily gain of the streak, capping a run that had gathered pace with each session through the start of the week.

Morgan Stanley Captures Entire Latest Flow

Morgan Stanley's MSBT accounted for the full $32.4 million inflow on Wednesday. Other large funds, including BlackRock's IBIT and Fidelity's FBTC, recorded no flows in the latest update. IBIT and FBTC rank among the largest US spot Bitcoin funds by assets. The result marked a sharp slowdown from Tuesday's $714.7 million total, a session in which no fund posted a net outflow while several issuers took in capital.

The shift followed two days of withdrawals on September 15 and 16, when the funds shed $450.4 million and $295.9 million respectively — a combined $746.3 million — before inflows resumed on Thursday. The reduced Wednesday figure came after the prior four-session run had already accumulated about $2.31 billion.

A separate breakdown of the ETF winning streak showed BlackRock leading September 22 with $350.3 million. Fidelity followed with $257.4 million, while Morgan Stanley added $99 million that day — participation that contrasted with Wednesday, when MSBT stood alone among the large funds.

Bitcoin Falls Despite Fresh ETF Demand

Bitcoin moved in the opposite direction during the latest session. BTC fell from above $86,000 toward $84,000 and briefly traded below that level. A market update on the decline reported that higher US Treasury yields added pressure, with the 10-year yield — a benchmark rate that anchors pricing across financial markets — moving above 5%.

The price move left Bitcoin well below its earlier weekly high despite continued ETF buying. The latest data shows that fund demand remained positive while broader spot selling pushed BTC lower. The five-day inflow streak remains intact, but Wednesday's total was much smaller than the previous sessions, leaving market watchers focused on whether the run extends into a sixth session.