Bitcoin ETFs Absorb $626M In Net Inflows As Renewed Demand Hits Crypto Market

The first three trading days of August saw US-listed spot Bitcoin exchange-traded funds (ETFs) collect $626 million in net inflows, with BlackRock's iShares Bitcoin Trust being the largest contributor at around $479 million.

This comes after a punishing stretch for the category, which bled over $8 billion across May and June. July saw a positive month, but August has brought renewed demand, with Wednesday's session bringing in $244.4 million.

Ether funds added $114.6 million over two days, while XRP products broke their four-session run without redemptions by shedding $3.58 million.