Seven-Day Inflow Streak Pushes Bitcoin ETFs Toward $1 Billion Mark
Spot Bitcoin exchange-traded funds in the United States saw $69 million in fresh capital on Wednesday, marking the seventh consecutive trading session of inflows and pushing the cumulative total close to $1 billion
Spot Bitcoin exchange-traded funds trading on US markets have pulled in approximately $1 billion in net inflows across seven consecutive trading days.
According to data compiled by SoSoValue, spot Bitcoin ETFs registered net inflows of $68.99 million on Wednesday, pushing the total accumulated inflows to $999.38 million since July 14.
While impressive, the ongoing streak falls short of the nine-session period in April, during which spot Bitcoin ETFs captured $2.1 billion in net inflows.
The Wednesday figures represented a decline from Tuesday's $203 million as the price of Bitcoin dropped beneath the $66,000 threshold. As of the time of publication, BTC was trading at approximately $65,729, reflecting a decline of roughly 0.3% during the previous 24 hours, based on data from CoinGecko. Meanwhile, the Crypto Fear & Greed Index, which serves as a market sentiment gauge, declined 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. According to Levin, improving macroeconomic sentiment, expectations for easier monetary policy, cooling inflation and stronger equity markets have encouraged investors to rotate back into risk assets.