Bitcoin ETFs Absorb $626M Amid August Rally
US-listed spot Bitcoin exchange-traded funds (ETFs) have started August on a high note, attracting $626 million in net inflows across their first three trading sessions. The category rebounded on August 3 with $170.1 million in net inflows, followed by another $211.49 million on Tuesday and $244.4 million on Wednesday. This brings the total to nearly $626 million, exceeding the funds gathered in July.
BlackRock's iShares Bitcoin Trust contributed approximately $479 million of that amount, taking its cumulative net inflows to nearly $61 billion since January 2024. Fidelity's FBTC lags behind as a distant second. The price of Bitcoin stood at around $64,700 on Wednesday, up less than 1% from the previous day.
The Crypto Fear and Greed Index slipped to 25, indicating 'Extreme Fear', while sentiment did not follow the same trend. Meanwhile, spot Ether funds recorded their second consecutive positive session, adding $60.9 million on Wednesday and bringing their two-day haul to $114.6 million. In contrast, XRP products shed $3.58 million, breaking a four-session run of no redemptions.