US spot Bitcoin exchange-traded funds (ETFs) recorded significant inflows on Wednesday, highlighting renewed investor interest as Bitcoin (BTC) briefly surpassed $73,000. ETFs collectively attracted $462 million, extending a three day streak of inflows and bringing the total for the week to $1.1 billion.
BlackRock Leads Bitcoin ETF Inflows
BlackRock’s iShares Bitcoin Trust (IBIT) led the charge with $307 million in new investments, followed by the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Grayscale Bitcoin Mini Trust (BTC) with $48 million and $32 million, respectively. Most US spot Bitcoin ETFs posted gains, with only the CoinShares Bitcoin ETF (BRRR) reporting no inflows on the day.
Analysts note that nearly all Bitcoin ETFs have turned net positive for the year, despite earlier setbacks. FBTC still shows $1.1 billion in year to date outflows, while the Grayscale Bitcoin Trust ETF (GBTC) and ARK 21Shares Bitcoin ETF (ARKB) have recorded $648 million and $162 million in losses, respectively.
According to Bloomberg ETF analyst Eric Balchunas;
Market Sentiment and Ethereum ETFs
Ether (ETH) funds mirrored Bitcoin’s momentum, drawing $169 million in inflows following minor outflows on Tuesday. The Crypto Fear & Greed Index has risen 12 points in 24 hours, reflecting cautious optimism even as it remains in the “extreme fear” zone. Bitcoin has recovered approximately 20% from February’s $60,000 low but is currently trading near $72,200, down around 8% over the past month.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.