Bitcoin ETF Inflows Hit Seventh Straight Day, Total $2.5 Billion

Bitcoin ETFs are experiencing their seventh consecutive day of net inflows, totaling over $2.5 billion, according to data from SoSoValue.

The latest figure for U.S. spot Bitcoin ETFs is $337.56 million on August 24, as investors continue to pour money into these funds. Ether funds also added $115.57 million in the same period, with Solana and XRP funds up $33.49 million and $13.82 million respectively.

Analysts are interpreting this streak of inflows as evidence that institutions are driving the price increase, rather than just short-sellers covering their positions. The breakout past $69,000 last week was partly due to a $3 billion short squeeze, but with seven days of ETF inflows at this pace, it seems that spot demand is outlasting the initial buying pressure.

Bitcoin ETF assets have climbed to $98.56 billion from $78.67 billion just one week ago, tracking both the inflows and the price increase. However, analysts are now flagging overbought conditions, with some warning of a potential flat or negative print this week that would test the durability of the rally.