Bitcoin ETFs extend inflow streak to 6 days with $203M added
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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US-listed spot Bitcoin exchange-traded funds (ETFs) have seen a continuous inflow streak extending to six consecutive sessions, with $203.1 million added on the most recent day. Over this six-day period, the ETFs accumulated around $930 million in total inflows, marking their longest sustained run of inflows since April, as reported by SoSoValue data.
This inflow surge coincided with Bitcoin's price trading above $65,000 and reaching a high of $66,700 on Tuesday. At the time of publication, Bitcoin was priced at approximately $65,802, representing a roughly 2% increase over the past 24 hours, according to CoinGecko. Alongside Bitcoin's price improvement, broader cryptocurrency market sentiment also showed signs of recovery, with the Crypto Fear & Greed Index rising from "extreme fear" to "fear."
Despite the recent inflows, US spot Bitcoin ETFs remain down by about $4.84 billion in net outflows year-to-date. Since their launch, these funds have accumulated $51.8 billion in cumulative net inflows, and their total net assets currently stand at $80.9 billion. Analysts mentioned that for Bitcoin to sustain an uptrend, it must break above and maintain trading in the $65,000 to $65,500 range, highlighting the importance of the recent price movements.
The inflow trend and Bitcoin’s price recovery imply renewed investor interest in Bitcoin ETFs and the broader crypto market, potentially signaling a shift in market sentiment after a period of cautiousness. Cointelegraph emphasizes its commitment to independent and transparent journalism and encourages readers to verify information independently.