Bitcoin ETFs Absorb Record Inflows Amid August Rebound
US-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) saw significant inflows in early August, absorbing $626 million over the first three trading days of the month. This surge was led by BlackRock's iShares Bitcoin Trust, which supplied around $479 million of that total and pushed its lifetime net inflows to nearly $61 billion.
This marks a rebound for the category after a punishing stretch in May and June, when US spot Bitcoin ETFs bled more than $8 billion. The recent inflows have lifted the three-day tally to roughly $626 million, already surpassing the funds gathered across the whole of July.
The wider crypto market is valued at around $2.29 trillion, with Bitcoin trading near $64,700 on Wednesday, up less than 1% over the previous 24 hours. Despite this, sentiment remains in the 'Extreme Fear' band, according to the Crypto Fear and Greed Index.