Crypto
Bitcoin ETF Inflows Hit 5-Day Mark Despite Price Drop to Below $84,000
US-listed Bitcoin exchange-traded funds (ETFs) continued their impressive inflow streak, attracting $32.4 million on Wednesday despite a sharp decline in Bitcoin's price to below $84,000.
The latest data from Farside Investors shows Morgan Stanley's MSBT as the sole recipient of net inflows, while other major funds such as BlackRock's IBIT and Fidelity's FBTC did not record any flows.
This marks the fifth consecutive day of positive flows for Bitcoin ETFs, with a total of roughly $2.34 billion entering the funds since September 17.
Wednesday's inflow was significantly smaller than the previous two sessions, which saw $714.7 million and $999 million respectively, but it still extends the streak of institutional demand for Bitcoin ETFs.