Bitcoin Price Reclaims $80K, Spurring $730M ETF Inflow Surge

Bitcoin's price has reclaimed $80,000, and investors are taking notice. US-listed spot Bitcoin exchange-traded funds (ETFs) saw their largest inflows in nearly eight months on Thursday, totaling $730.9 million.

This influx of cash is the highest daily haul since January 14, when ETFs attracted $843.6 million, according to SoSoValue data. The surge came after $101.2 million inflows on Wednesday and as Bitcoin's price traded in a range between roughly $76,000 and $81,000.

BlackRock's iShares Bitcoin Trust (IBIT) led the charge with $454 million in inflows, accounting for about 62% of the total. IBIT alone drew $503 million in inflows on August 20, but this week's numbers still mark a significant increase in investor interest.

ARK Invest and 21Shares' ARK 21Shares Bitcoin ETF (ARKB) followed with $137.7 million, while Fidelity's Wise Origin Bitcoin Fund (FBTC) drew $74.4 million. However, VanEck's Bitcoin ETF (HODL) and WisdomTree's Bitcoin Fund (BTCW) recorded outflows of $19.6 million and $5.2 million respectively.

CryptoQuant remains cautious about Bitcoin's rally, citing weaker spot demand and heavy short covering. The company notes that Bitcoin holders realized 23,000 BTC in net profits on August 21, the highest daily amount this year, and around 110,000 BTC since August 19.