US spot Bitcoin ETFs attracted $462 million in net inflows on Wednesday as Bitcoin briefly climbed above $73,000, marking a third consecutive day of inflows and pushing the weekly total to about $1.1 billion, according to Farside data.
The inflows helped lift year-to-date flows to roughly $700 million, a modest rebound after ETFs suffered $3.8 billion in outflows over a five-week stretch. Ether funds also saw renewed interest, taking in $169 million after minor outflows of $11 million on Tuesday.
The pattern of inflows over several days has prompted some analysts to view this as a potential market reversal; most U.S. spot Bitcoin ETFs are now net positive year-to-date.
Nearly every U.S. spot Bitcoin fund recorded gains Wednesday. CoinShares’ Bitcoin ETF (BRRR) was the lone fund with no inflows that day. BlackRock’s iShares Bitcoin Trust (IBIT) led the group with $307 million, followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) with $48 million and Grayscale’s Bitcoin Mini Trust (BTC) with $32 million.
Bloomberg ETF analyst Eric Balchunas noted that, as of Tuesday, almost all Bitcoin ETFs had moved into net positive territory year-to-date. Three exceptions still showing net outflows were FBTC (about $1.1 billion outflows), Grayscale Bitcoin Trust ETF (GBTC) with $648 million in outflows, and ARK 21Shares Bitcoin ETF (ARKB) with $162 million in outflows.
Sentiment indicators moved higher alongside the flows: the Crypto Fear & Greed Index jumped 12 points in 24 hours to a score of 20, which remains in the “extreme fear” zone, per Alternative.me. Bitcoin has recovered roughly 20% from February’s low near $60,000 but was trading near $72,214 at the time of reporting, down about 8% over the past 30 days, per CoinGecko.
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