Bitcoin Spot ETFs Post Third Straight Day of Net Inflows
Bitcoin spot exchange-traded funds (ETFs) have seen net inflows for three consecutive sessions, reaching cumulative totals of over $626 million this month.
The trend began in early August and continues to drive interest in these financial products. According to Sosovalue data, bitcoin spot ETFs have recorded net inflows for the past three days.
Among individual products, BlackRock's iShares Bitcoin Trust ETF, known as IBIT, led the way with $479 million in net inflows over the same period. Cumulative net inflows neared $61 billion, confirming that BlackRock products still hold a significant share of overall bitcoin spot ETF flows.
The inflows coincided with a brief price rebound for Bitcoin, which rose above $64,920 but currently trades around $64,300. Despite this, market sentiment remains in the 'Extreme Fear' zone, as indicated by the Crypto Fear & Greed Index falling to 25 from 27 the previous day.