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Bitcoin ETFs bag another $528M, taking 3-day haul past $1B

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US spot Bitcoin ETFs pulled in $528 million in net inflows on Wednesday, extending a three-session winning streak as Bitcoin briefly rose above $84,700. The funds have now attracted more than $1 billion over the period, reversing a recent stretch of withdrawals. The inflow data was reported by SoSoValue.

Wednesday’s gains followed $23 million in net inflows on Tuesday and $526.6 million on Monday. Across the three trading sessions, the ETFs drew a combined $1.08 billion. The streak marked a sharp turnaround after two consecutive weeks of outflows.

BlackRock’s iShares Bitcoin Trust led Wednesday’s activity with $235 million in net inflows, according to Farside Investors. Fidelity Wise Origin Bitcoin Fund followed with roughly $213 million. The two largest funds accounted for most of the day’s total.

Bitcoin’s price briefly climbed to an intraday high of $84,777, CoinGecko data showed. It later pulled back to $82,485 at the time of publication. The ETF inflows coincided with the brief rally.

The three-day haul pushed October’s net inflows to about $461 million. Year-to-date net inflows reached $1.34 billion. The figures restore positive flows for October after the recent withdrawals.

The prior two weeks had been negative for Bitcoin ETFs. The funds shed $228 million last week and $681 million the week before. The new data suggests renewed investor demand after that pullback.

Altcoin ETFs also recorded modest inflows. Ether ETFs attracted $15 million, ending a five-session outflow streak. Solana ETFs snapped a 13-day outflow streak with about $585,000, while XRP ETFs added roughly $709,000.

The latest flows indicate that investors returned to Bitcoin funds as prices tested higher levels. Whether the momentum persists will depend on continued demand and market conditions. For now, the three-day total has pushed October flows back above water.

Read original article →Source: cointelegraph