- U.S. spot Bitcoin ETFs saw a surge of $462 million in net inflows, marking their third consecutive day of net positive flows.
- Nearly all issuers participated in the inflows, led by BlackRock‘s iShares Bitcoin Trust ETF (IBIT) with $307 million.
- The inflows contributed to a weekly total of $1.1 billion and a year-to-date figure of about $700 million, signaling a potential market reversal after a five-week outflow streak that shed $3.8 billion.
On Wednesday, U.S. spot Bitcoin exchange-traded funds posted a significant $462 million in net inflows as the cryptocurrency briefly surged past $73,000, according to Farside data. This marked the third consecutive day of gains, bringing the weekly total to $1.1 billion and year-to-date flows to about $700 million, a modest recovery following a five-week outflow streak where the ETFs shed $3.8 billion.
BlackRock‘s iShares Bitcoin Trust ETF (IBIT) led the inflows with $307 million. Meanwhile, the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Grayscale Bitcoin Mini Trust ETF (BTC) followed with $48 million and $32 million, respectively. Nearly all U.S. spot Bitcoin funds attracted money, with only the CoinShares Bitcoin ETF (BRRR) recording zero inflows.
Consequently, analysts observed that most Bitcoin ETFs have now turned to net positive flows year-to-date. According to Bloomberg ETF analyst Eric Balchunas, only three funds still showed losses as of Tuesday: FBTC, the Grayscale Bitcoin Trust ETF (GBTC), and the ARK 21Shares Bitcoin ETF (ARKB). Ether (ETH) funds also shared the positive sentiment, drawing $169 million in inflows after minor outflows the previous day.
The flows highlight a potential market reversal amid a sentiment recovery, with the Crypto Fear & Greed Index jumping 12 points in 24 hours, though it remains in “extreme fear” territory. At the time of writing, Bitcoin traded at $72,214, according to CoinGecko, down approximately 8% over the past month.
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