US bitcoin ETFs report the largest inflow day since January, worth $731 million
Analysts attributed Fed Governor Christopher Waller’s dovish comments to the significant inflow of capital into bitcoin products.
Bitcoin exchange-traded funds (ETFs) in the US attracted a record $730.9 million in net inflows on Thursday, marking their highest daily increase since January 14. The surge came as Bitcoin reclaimed the $80,000 mark after trading between $76,000 and $81,000 throughout the week, according to CoinGecko. BlackRock's iShares Bitcoin Trust (IBIT) led the inflows with $454 million, accounting for approximately 62% of the total.
However, CryptoQuant expressed caution regarding Bitcoin's rally, citing weak spot demand and significant short covering as the market approaches the key $83,000 threshold. The report noted that Bitcoin holders realized substantial profits, with 23,000 BTC in net gains on August 21 and a cumulative total of 110,000 BTC since August 19.
Despite the inflows, only VanEcc's Bitcoin ETF (HODL) and WisdomTree's Bitcoin Fund (BTCW) recorded outflows on Thursday, amounting to $19.6 million and $5.2 million, respectively.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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