US Bitcoin ETFs See $462M Inflows as BTC Briefly Tops $73K
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US spot Bitcoin exchange-traded funds recorded $462 million in net inflows on Wednesday as Bitcoin briefly traded above $73,000, marking a third straight day of gains that lifted the week’s total to $1.1 billion, according to data from Farside.
The latest additions bring year-to-date flows to about $700 million, following a five-week stretch earlier this year in which the products saw $3.8 billion in outflows.
Ether (ETH) funds also saw positive momentum, drawing $169 million on Wednesday after recording $11 million in outflows the prior day.
Nearly all spot Bitcoin funds recorded inflows
On Wednesday, inflows were broad-based across US spot Bitcoin ETFs, with only the CoinShares Bitcoin ETF (BRRR) posting zero inflows for the session.
BlackRock’s iShares Bitcoin Trust (IBIT) led with $307 million, followed by the Fidelity Wise Origin Bitcoin Fund (FBTC) at $48 million and the Grayscale Bitcoin Mini Trust (BTC) at $32 million.
Daily flows in US spot Bitcoin ETFs by issuer since Monday (in millions of US dollars). Source: Farside.co.uk
Bloomberg ETF analyst Eric Balchunas noted that as of Tuesday, nearly all Bitcoin ETFs had turned net positive on a year-to-date basis, with only three funds still showing cumulative outflows.
Those include FBTC with $1.1 billion in outflows, the Grayscale Bitcoin Trust ETF (GBTC) with $648 million, and the ARK 21Shares Bitcoin ETF (ARKB) with $162 million.
Source: Eric Balchunas
The pickup in flows coincided with improving sentiment. The Crypto Fear & Greed Index rose by 12 points over the past 24 hours, according to Alternative.me. Despite Bitcoin rebounding roughly 20% from February’s low of $60,000, the index remains in “extreme fear” territory at 20.
At the time of writing, Bitcoin was trading at $72,214, down about 8% over the past 30 days, according to CoinGecko.
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