Categories: CRYPTO

Bitcoin ETF Inflows Slow as XRP ETFs Hit January High


US-listed spot Bitcoin exchange-traded funds (ETFs) drew $232.1 million in net inflows on Wednesday, slowing from the previous day while extending their inflow streak to eight trading days.

The latest inflow was down about 26% from Tuesday’s $314.4 million and marked the smallest daily total since Aug. 18, according to SoSoValue data.

The eight-session streak has attracted about $2.8 billion, cutting year-to-date net outflows to about $2.03 billion. Cumulative net inflows rose to $54.6 billion, while total net assets reached $98.6 billion.

Daily inflows in US spot Bitcoin ETFs since Aug. 17. Source: SoSoValue

The slowdown came as Bitcoin stalled after briefly climbing above $80,000 on Tuesday. Bitcoin traded at about $78,759 at publishing time, down 0.3% over the past 24 hours, according to CoinGecko.

Despite Bitcoin’s stalled price action, crypto market sentiment strengthened on Thursday. The Crypto Fear & Greed Index rose to 71 from 65 a day earlier, remaining in “Greed” territory, according to Alternative.me.

The Crypto Fear & Greed Index. Source: Alternative.me

Among altcoin funds, US spot Ether ETFs also recorded an eighth consecutive day of inflows on Wednesday, attracting $192.4 million.

US-listed spot XRP ETFs attracted $28.1 million on Wednesday, their biggest daily inflow since Jan. 5, according to SoSoValue. Cumulative net inflows reached $1.62 billion.

Related: Supply absorption ‘key question’ as Bitcoin fails to reclaim $80K: Analysis

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.



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