US Bitcoin ETFs See $203M in Fresh Capital During Six-Day Positive Run
Spot Bitcoin exchange-traded funds in the United States have maintained their positive momentum for six consecutive trading sessions, attracting approximately $930 million in total despite showing a $4.84 billion net deficit for the current year.
Spot Bitcoin exchange-traded funds (ETFs) trading in the United States marked their sixth straight day of positive net inflows on Tuesday, with an additional $203.1 million flowing into the products.
Across the six-day consecutive inflow period, the Bitcoin ETFs have captured approximately $930 million in total, representing their most extended sequence of continuous inflows since April, data from SoSoValue reveals.
These capital inflows occurred as Bitcoin's price maintained levels above $65,000 and momentarily reached $66,700 during Tuesday's trading session. As of this writing, Bitcoin was changing hands at $65,802, reflecting an approximate 2% gain compared to the prior 24-hour period, based on CoinGecko information.
The overall cryptocurrency market's sentiment experienced an uptick on Wednesday as well, with the Crypto Fear & Greed Index advancing to a "fear" reading from its previous "extreme fear" level.
This rebound in investor confidence follows commentary from market analysts who indicated that Bitcoin must successfully breach and sustain price levels within the $65,000 to $65,500 range to build a stronger argument for continued upward momentum.
Since their initial launch, the investment vehicles have gathered $51.8 billion in total cumulative net inflows, with overall net assets now standing at $80.9 billion. Despite the recent positive trend, US spot Bitcoin ETFs continue to show approximately $4.84 billion in net outflows when measured on a year-to-date basis.