TL;DR
- ETF Momentum: Bitcoin ETFs added $232.1 million on Wednesday, extending an eight-day streak totaling $2.8 billion.
- Market Sentiment: Bitcoin hovered near $79,520 as the Fear & Greed Index climbed to 71, signaling improving confidence despite slower Bitcoin ETFs inflows.
- Category Divergence: IBIT led with $2.02 billion over the streak while GBTC saw outflows, as analysts highlighted record Bitcoin ETFs weekly flows and rising trading volume across the market.
Bitcoin ETFs recorded another day of inflows on Wednesday, adding $232.1 million and extending their run to eight consecutive sessions. The pace slowed compared to Tuesday’s stronger showing. Yet, the category continued to attract steady interest as traders assessed shifting market sentiment. The streak has now pulled in about $2.8 billion, trimming year-to-date net outflows and reinforcing Bitcoin ETFs’ role in shaping daily market flows.
Cooling Bitcoin ETFs Inflows and Market Reaction
The latest figure marked a 26% drop from Tuesday’s $314.4 million, the smallest daily total since Aug. 18 according to SoSoValue. Even with the slowdown, cumulative net inflows climbed to $54.6 billion and total net assets reached $98.6 billion. Bitcoin softened after briefly pushing above $80,000 earlier in the week, trading near $78,759 at publishing time, down 0.3% over the past day.
Despite the price pause, sentiment improved as the Crypto Fear & Greed Index rose to 71 from 65, holding firmly in “Greed” territory. Altcoin-linked funds also saw movement. US spot Ether ETFs posted their eighth straight day of inflows, adding $192.4 million. Spot XRP ETFs brought in $28.1 million, their strongest daily total since Jan. 5, lifting cumulative inflows to $1.62 billion.
Diverging ETF Trends and Analyst Views
Bitcoin traded around $79,520 on Thursday, up 1.1% after touching an intraday high of $80,475 as Bitcoin ETFs continued their eight-day streak. BlackRock’s IBIT dominated the run with $2.02 billion, representing 72% of the total, while Grayscale’s GBTC shed $50.4 million on Wednesday. Since launch, IBIT has accumulated $63.1 billion in inflows, compared to GBTC’s $27.6 billion in outflows.
Analysts highlighted notable activity across the market. Eric Balchunas pointed to a combined $7 billion flowing into gold and Bitcoin funds over the past week, describing it as a record-setting stretch. Stephen Wundke noted weekly trading volume reached $90 billion, nearly double the average, with Bitcoin accounting for just under $40 billion. He added that weekly ETF inflows of nearly $2 billion matched the previous 30 days combined, suggesting August could become the strongest month since October 2025 if momentum holds.
