Bitcoin ETF inflows hit 7-day high led by BlackRock as BTC approaches $80,000 milestone
Spot Bitcoin exchange-traded funds listed in the United States achieved a seven-day streak of inflows reaching $1.9 billion, exceeding their comparable March performance.
Spot Bitcoin exchange-traded funds (ETFs) listed in the United States have demonstrated increasing strength as Bitcoin's price rebounds, exhibiting consistent inflows beginning in mid-April.
On Wednesday, spot Bitcoin (BTC) ETFs registered $335.8 million in new inflows, representing the seventh straight day of positive flows, based on data from Farside.
Throughout this inflow streak, the ETFs attracted approximately $1.9 billion in aggregate inflows, exceeding the prior seven-day inflow run recorded in March, which brought in $1.2 billion.
Data from Wallet Pilot indicates that Bitcoin ETFs collectively maintain 1.3 million Bitcoin in assets under management, valued at approximately $103 billion.
The consistent capital flows into Bitcoin ETFs coincided with an upward trajectory in BTC pricing, which has climbed 11% during the last 30 days. On Wednesday, BTC momentarily crossed above $79,000, marking its initial achievement of that price point since the conclusion of January, based on CoinGecko data.
BlackRock leads inflows at $1.4 billion as Morgan Stanley fund adds to streak
From the $1.9 billion recorded during the most recent inflow streak, BlackRock's iShares Bitcoin Trust ETF (IBIT) represented over 73% of the complete inflows at $1.4 billion. This fund maintains 809,870 Bitcoin, representing 62% of aggregate AUM across US-listed spot Bitcoin ETFs.
The Morgan Stanley Bitcoin Trust (MSBT) made a substantial contribution to this positive trend, recording $95 million throughout the complete streak. Remarkably, this fund has yet to experience a single day of capital outflows, accumulating $163 million since its April 8 launch date.
Nevertheless, multiple funds have experienced losses throughout the previous seven trading sessions. The Grayscale Bitcoin Trust ETF (GBTC) dominated redemptions during this timeframe, recording net outflows of approximately $100 million.
Ether (ETH), which ranks as the second-largest crypto asset measured by market capitalization, has similarly been experiencing increased interest in US-listed spot ETFs, with these investment vehicles recording a 10-day inflow streak amounting to $633.6 million, based on Farside data.
During the previous week, wider ETH investment products experienced their most robust week since January, ultimately converting to positive flows on a year-to-date basis, as reported by CoinShares.
The continuing rebound in spot markets occurred as the Crypto Fear & Greed Index jumped to 46 for the first occasion since the end of January. However, the index continues to remain within "fear" territory, given that Bitcoin stays down roughly 11% year-to-date.