On Wednesday, US spot Bitcoin exchange-traded funds (ETFs) experienced significant inflows, totaling $462 million and marking the third consecutive day of positive movement. This influx brings the weekly total to $1.1 billion, signaling a potential reversal in market sentiment after a prolonged period of outflows. Year-to-date, these funds have accumulated approximately $700 million, a modest recovery following a five-week decline that saw $3.8 billion withdrawn.
Leading the inflow surge was BlackRock’s iShares Bitcoin Trust ETF, which attracted $307 million. Other notable funds included the Fidelity Wise Origin Bitcoin Fund and the Grayscale Bitcoin Mini Trust ETF, which saw inflows of $48 million and $32 million, respectively. Notably, only the CoinShares Bitcoin ETF did not register any inflows on that day.
In addition to Bitcoin, Ether ETFs also witnessed positive movement, drawing $169 million after minor outflows. The Crypto Fear & Greed Index, which reflects market sentiment, rose by 12 points but still indicates “extreme fear” with a score of 20, despite Bitcoin's recent recovery from a low of $60,000 earlier this year.