US Bitcoin Spot ETFs Log Fifth Straight Day of Inflows

US Bitcoin spot exchange-traded funds (ETFs) have seen their fifth straight day of net inflows, adding $190.64 million in a single day on February 24th. This marks the largest daily influx since October 10 last year.

The BlackRock iShares Bitcoin Trust (IBIT) led the way with $162.63 million in net inflows, accounting for over 85% of the total. Fidelity's Wise Origin Bitcoin Fund (FBTC) and Morgan Stanley's MSBT also saw significant inflows, while Bitwise's BITB added $4.13 million.

The five-day cumulative total now stands at $2.65 billion, a figure not seen since October 10 last year. Year-to-date net inflows have swung back to approximately $596 million.

Despite the ETF inflows, Bitcoin's price has entered a consolidation phase, briefly topping $87,000 before sliding below $84,000. The cryptocurrency remains up 9.5% on a seven-day basis, but long-position liquidations worth approximately $280 million occurred as it fell below $84,000.