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BlackRock’s IBIT led inflows with $307 million as almost all US spot Bitcoin ETFs recorded inflows on Wednesday, extending a three-day inflow streak totaling $1.1 billion.) ETFs posted $462 million in net inflows, marking the third consecutive day of inflows and bringing the weekly total to $1.
1 billion,The flows highlight a potential market reversal, with analysts observing that most Bitcoin ETFs have now turned to net positive flows YTD.Wednesday marked a rare occasion when nearly all US spot Bitcoin funds attracted inflows, with only the CoinShares Bitcoin ETF recording zero inflows on the day. BlackRock’s iShares Bitcoin Trust ETF again led inflows with $307 million, followed by the Fidelity Wise Origin Bitcoin Fund and the Grayscale Bitcoin Mini Trust ETF with $48 million and $32 million, respectively.According to Bloomberg ETF analyst Eric Balchunas, almost all Bitcoin ETFs had turned net positive in year-to-date flows as of Tuesday, with only three funds still showing losses. Those include FBTC with $1.1 billion in outflows, as well as the Grayscale Bitcoin Trust ETF and the ARK 21Shares Bitcoin ETF , which have seen $648 million and $162 million in outflows, respectively.The latest wave of gains in Bitcoin ETFs came amid a sentiment recovery attempt, with the Crypto Fear & Greed IndexDespite Bitcoin recovering about 20% from February’s low of $60,000, the index still stands at “extreme fear” with a score of 20.Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy
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