U.S Spot Bitcoin ETFS Have Now Had 10 Straight Days Of Net Inflows
U.S. spot bitcoin ETFs saw $89 million in net inflows on Thursday, marking their 10th consecutive day of positive flows. One analyst said this indicates there’s still institutional demand for bitcoin, despite inflows being modest compared to those seen earlier this year.
The U.S. spot bitcoin exchange-traded funds saw their longest inflow run since December of last year on Thursday, extending their positive flow streak to 10 days.
According to Min Jung, an analyst at Presto Research, “this suggests that there is still demand for bitcoin exposure in the market, even though institutions are not aggressively risk-on.”
SoSoValue data shows that the U.S Spot bitcoin ETFs saw a net inflow of $89 million on Thursday. With $97.14 million joining the fund, Fidelity’s FBTC led inflows, while BlackRock’s IBIT also experienced inflows of about $4 million.
However, there were withdrawals of $5 million from WisdomTree’s BTCW and roughly $7 million from Invesco’s BTCO.
Inflows during the last ten trading days, however, have remained “relatively modest,” according to Presto’s Jung.
Following U.S. President Donald Trump’s initial announcement of strict tariff measures on other nations, cryptocurrency and the larger stock market have seen more volatility and fall.
The still-developing policies continue to depress market sentiment, even though investors have since regained some confidence in the idea that Trump’s tariffs won’t be as severe.
Inflows into the funds totaled $1.06 billion throughout the 10-day period, which was less than the January 17 single-day inflow.
The disparity in flows between ether ETFs and bitcoin ETFs was another concern raised by the crypto specialist. Since February 20, there have been net outflows from spot ether ETFs on all but two days.
“This contrast highlights a clear difference in investor conviction between Bitcoin BTC -2.63% and Ethereum,” Jung stated.
The Block’s cryptocurrency price website shows that bitcoin has dropped 1.5% during the last day, reaching $86,024. Ether dropped 4.7% to $1,929 after it changed hands.
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