U.S. spot Bitcoin exchange-traded funds continue to record inflows. On Tuesday, investors added another $203.1 million to these products, marking the sixth consecutive day of positive net flows.
According to SoSoValue data, Bitcoin ETFs received around $930 million in total inflows over the past six trading sessions. This is the longest inflow streak since April.
The growing interest in the funds coincided with a recovery in Bitcoin’s price. On Tuesday, the leading cryptocurrency traded above $65,000 and briefly climbed to $66,700.
Crypto market sentiment also improved. The Crypto Fear & Greed Index moved from the “extreme fear” zone into “fear.”
Analysts note that Bitcoin needs to break above and hold the $65,000–$65,500 range to support the case for a sustained recovery. Such a move would provide an additional signal that a new uptrend may be forming.
Since their launch, U.S. spot Bitcoin ETFs have accumulated $51.8 billion in total net inflows, while combined assets under management reached $80.9 billion. However, the funds still record net outflows of about $4.84 billion since the start of the year.
A difficult period
The past few months have been challenging for U.S. spot Bitcoin ETFs. After strong inflows earlier in the year, the funds mostly recorded outflows amid rising geopolitical tensions, uncertainty around the global economy and weaker investor appetite for riskier assets.
Pressure intensified amid conflicts in the Middle East, trade disputes and concerns over a potential slowdown in the U.S. economy. Investors reduced exposure to more volatile assets, including Bitcoin, which affected ETF flows as well. The renewed inflows over the past week have become the first notable sign of improving market sentiment.
Bitcoin’s price was also rising the previous day amid renewed inflows into Bitcoin ETFs.
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