Bitcoin ETFs Log $462M Inflows as BTC Tops $73K

Bitcoin News

U.S. spot Bitcoin ETFs recorded $462 million in net inflows on Wednesday, marking the third consecutive day of positive flows and bringing the three-day total to $1.1 billion The inflows came as Bitcoin brieflycrossed $73,000, extending a recovery that began after Bitcoin hit a February low near $60,000

BlackRock‘s iShares Bitcoin Trust (IBIT) led all issuers with $307 million in inflows. The Fidelity Wise Origin Bitcoin Fund (FBTC) followed with $48 million, and the Grayscale Bitcoin Mini Trust ETF posted $32 million. Only the CoinShares Bitcoin ETF (BRRR) recorded zero inflows on the day, making Wednesday a rare session when nearly every U.S. spot Bitcoin fund attracted capital.

The latest inflows push year-to-date flows for the category to roughly $700 million, a partial recovery after a five-week outflow streak that saw the funds shed $3.8 billion. Bloomberg ETF analyst Eric Balchunas notedthat, as of Tuesday, almost all Bitcoin ETFs had turned net positive year-to-date, with only three funds still in negative territory.

Those three include FBTC with $1.1 billion in outflows, GBTC with $648 million in outflows, and the ARK 21Shares Bitcoin ETF (ARKB) with $162 million in outflows

Ethereum funds also saw a reversal, pulling in $169 million after recording minor outflows of $11 million on Tuesday. Analysts noted that most Bitcoin ETFshave now crossed into net positive year-to-date territory, describing the shift as a potential broader market reversal.
Bitcoin has recovered roughly 20% from its February low, with the most recent trading price sittingat $72,214.
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Source: coinmarketcap.com