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Bitcoin ETFs pull in $244M, 3-day inflow streak tops $626M
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- DeepHorus
US-listed spot Bitcoin exchange-traded funds recorded $244.4 million in net inflows on Wednesday, marking a third consecutive day of gains. The three-day total now stands at $626 million, according to data from SoSoValue and Farside Investors. This strong start to August signals renewed institutional appetite for Bitcoin exposure through regulated vehicles.
BlackRock's iShares Bitcoin Trust ETF (IBIT) led the charge, attracting $479 million over the three-session period. This brings its cumulative net inflows to nearly $61 billion, solidifying its position as the dominant player in the space. Other Bitcoin ETFs also contributed, though IBIT accounted for the majority of the recent inflows.
The inflows coincided with Bitcoin briefly climbing above $64,920 on Wednesday. The cryptocurrency was trading at $64,744.53 at publication, up 0.7% over the previous 24 hours, according to CoinGecko. Despite the price uptick, the Crypto Fear & Greed Index remained in "Extreme Fear" territory with a score of 25, down from 27 a day earlier.
This divergence suggests that while institutional investors are buying the dip, retail sentiment remains cautious. The persistent extreme fear reading could reflect broader macroeconomic uncertainties or lingering concerns about regulatory actions. However, the steady ETF inflows indicate that professional money managers see current prices as an attractive entry point.
Spot Ether and XRP ETFs showed mixed performance on Wednesday. Ether ETFs attracted $60.9 million in their second straight day of net inflows, bringing their two-day total to $114.6 million. XRP ETFs, however, recorded $3.58 million in net outflows, reducing total net assets to $993.4 million while cumulative inflows stood at $1.51 billion.
The contrasting flows highlight the varying investor confidence across digital assets. Ether continues to gain traction as a commodity-like asset, while XRP faces ongoing legal and regulatory uncertainties. These trends could shape the competitive landscape of crypto ETFs in the coming months.
The news also arrives amid a broader custody debate reignited by a recent cold wallet hack. This incident underscores the importance of secure storage solutions for ETF issuers. As inflows grow, investors will likely demand greater transparency and security measures from fund managers.
Looking ahead, sustained ETF inflows could provide a strong foundation for Bitcoin's price recovery. If the positive momentum continues, analysts expect the Fear & Greed Index to eventually move toward "Neutral." However, external factors such as regulatory developments and macroeconomic data will play a crucial role in determining the sustainability of this trend.
