US Spot Bitcoin ETFs Record $1.7 Billion in Inflows Over Three Days

Source: CryptoNewsNet Original Title: US-based Spot Bitcoin Exchange Traded Funds (ETFs) Record Inflows in the Last Three Days! Here Are the Details Original Link: Strong inflows into US-listed spot Bitcoin exchange-traded funds (ETFs) continue to gain momentum. According to the latest data, spot Bitcoin ETFs recorded high net inflows for the third consecutive day, surpassing a total of $1.7 billion. This trend, indicating a renewed interest of institutional investors in crypto assets, has boosted optimism in the market.

According to SoSoValue data, spot Bitcoin ETFs saw a net inflow of $843.6 million on Wednesday. This figure marked the highest daily inflow since October 7th and also surpassed the three-month record of $754 million reached on Tuesday. Thus, the total amount of funds flowing into Bitcoin ETFs in the last three days reached $1.71 billion.

On that day, eight of the 12 Bitcoin ETFs in the market reported net inflows. BlackRock IBIT, the largest Bitcoin ETF, led the way with $648 million inflows, while Fidelity’s FBTC fund saw $125.4 million. Ark & 21Shares’ ARKB fund recorded $27 million inflows, and positive capital movements were also seen in Grayscale, Bitwise, VanEck, Valkyrie, and Franklin Templeton funds.

Nick Rick, Director of LVRG Research, stated that this strong demand for ETFs indicates that institutional investors are taking risks again after a cautious stance at the end of the year. Similarly, Vincent Liu, CIO of Kronos Research, said that sustainable net inflows into crypto ETFs would create “structural support” for prices.

On the other hand, spot Ethereum ETFs recorded net inflows for the third consecutive day, seeing a positive flow of $175 million. On the same day, spot Solana ETFs saw inflows of $23.5 million, and XRP ETFs saw inflows of $10.6 million. In the market, Bitcoin rose 1.79% in the last 24 hours to trade at $96,447, while Ethereum stabilized at $3,313.