U.S.-listed spot Bitcoin exchange-traded funds saw net inflows of $75.47 million on Wednesday, breaking a five-day streak of uninterrupted outflows.
The now-ended ETF outflow streak coincided with the latest strong pullback in Bitcoin, the funds bleeding more than $2.26 billion from Nov. 12 to Nov. 18.
Bitcoin ETFs Snap Record Outflow Streak
According to data published by SoSoValue, the Bitcoin funds reported net inflows of $75.47 million yesterday, with $60.61 million going into BlackRock’s iShares Bitcoin Trust (IBIT), a stark contrast from Tuesday’s record-setting outflow of $523.15 million for the fund. Grayscale’s BTC followed with $53.84 million in inflows.
Meanwhile, Fidelity FBTC and VanEck’s HODL registered combined outflows of $39 million on Wednesday.
The recent five-day rout coincided with a broader downturn in the crypto market, underscoring deepening institutional caution as markets shifted from momentum to a more cautious phase. BTC recently fell below $90,000 for the first time since April after smashing a new all-time high of $126,080 just last month.
The inflows yesterday don’t necessarily signal a change in sentiment, but they mark a pause in what had been one of the deepest bloodbaths since the funds launched in January 2024.
Bitcoin rose back above $92,000 early Thursday, rebounding alongside broader crypto market gains after Nvidia’s upbeat earnings. At press time, the world’s largest and oldest cryptocurrency changed hands at approximately $91,180.
Nearly $3 billion has already exited the spot BTC ETFs in November alone, putting the products on course to beat February as their worst-performing month. Per SoSoValue, the Bitcoin ETFs witnessed staggering $3.56 billion outflows in February.
Although Wednesday’s $75.4 million inflow is paltry compared to the recent withdrawals, it’s an indication of returning institutional investor appetite.
Source: https://zycrypto.com/spot-bitcoin-etfs-pull-in-75-million-ending-five-day-losing-streak/
