Bitcoin ETF inflows slow to $232M as BTC holds under $80K
Written by Helen Partzstaff writerReviewed by Yohan Yunstaff editorUS spot Bitcoin ETF inflows slowed to $232.1 million as an eight-day streak reached $2.8 billion, while XRP funds posted their biggest inflow since Jan. 5.
US-listed spot Bitcoin exchange-traded funds (ETFs) drew $232.1 million in net inflows on Wednesday, slowing from the previous day while extending their inflow streak to eight trading days.
The latest inflow was down about 26% from Tuesday’s $314.4 million and marked the smallest daily total since Aug. 18, according to SoSoValue data.
The eight-session streak has attracted about $2.8 billion, cutting year-to-date net outflows to about $2.03 billion. Cumulative net inflows rose to $54.6 billion, while total net assets reached $98.6 billion.
Daily inflows in US spot Bitcoin ETFs since Aug. 17. Source: SoSoValue
The slowdown came as Bitcoin stalled after briefly climbing above $80,000 on Tuesday. Bitcoin traded at about $78,759 at publishing time, down 0.3% over the past 24 hours, according to CoinGecko.
Despite Bitcoin’s stalled price action, crypto market sentiment strengthened on Thursday. The Crypto Fear & Greed Index rose to 71 from 65 a day earlier, remaining in “Greed” territory, according to Alternative.me.
The Crypto Fear & Greed Index. Source: Alternative.me
Among altcoin funds, US spot Ether ETFs also recorded an eighth consecutive day of inflows on Wednesday, attracting $192.4 million.
US-listed spot XRP ETFs attracted $28.1 million on Wednesday, their biggest daily inflow since Jan. 5, according to SoSoValue. Cumulative net inflows reached $1.62 billion.
Related: Supply absorption ‘key question’ as Bitcoin fails to reclaim $80K: Analysis
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