US-listed spot Bitcoin exchange-traded funds continued their recent recovery on Tuesday, posting a sixth straight day of net inflows. The group brought in $203.1 million for the session, lifting total inflows across the six-day run to roughly $930 million, according to SoSoValue data.
The streak marks the longest consecutive stretch of inflows for Bitcoin ETFs since April. Even with the recent improvement, the funds remain in negative territory for the year on a net basis, with year-to-date outflows still standing at $4.84 billion. Since launch, however, the products have gathered $51.8 billion in cumulative net inflows, and total net assets have reached $80.9 billion.
The inflows came while Bitcoin traded above $65,000 and briefly touched $66,700 on Tuesday. At the time of publication, the asset was changing hands at $65,802, up about 2% over the previous 24 hours, according to CoinGecko. Broader market sentiment also firmed on Wednesday, with the Crypto Fear & Greed Index moving from “extreme fear” to “fear.”
Analysts cited in the report said Bitcoin would need to break above and hold the $65,000 to $65,500 zone to build a stronger case for a sustained upward move. The latest ETF figures suggest renewed demand for regulated Bitcoin exposure even as the market continues to work through a year of net redemptions.
Source: cointelegraph.com
