American spot Bitcoin exchange-traded funds recorded moderate inflows of $347 million on Wednesday while Bitcoin dropped past the $84,000 threshold, bringing the five-day positive run to a total of $2.65 billion.
United States spot Bitcoin exchange-traded funds (ETFs) gathered roughly $347 million in net deposits on Wednesday, continuing their winning streak to five consecutive sessions despite Bitcoin sliding beneath $84,000 after previously exceeding $87,000.
Based on metrics from SoSoValue, these products accumulated approximately $2.65 billion over the five-day stretch ending Wednesday. The mid-week figure represented a decrease from Tuesday’s $714.75 million and Monday’s yearly high of $998.95 million.
So far in September, the vehicles have accumulated $2.37 billion, effectively balancing out previous withdrawals and pushing aggregate year-to-date inflows close to $596 million.
BlackRock’s iShares Bitcoin Trust (IBIT), which remains the biggest US spot Bitcoin ETF based on holdings, paced Wednesday’s results with $166 million coming in, closely tracked by Fidelity’s Wise Origin Bitcoin Fund (FBTC) at $143 million, as shown by figures from Farside Investors.
Meanwhile, US spot Ether ETFs attracted roughly $105 million on Wednesday, securing their fourth straight day of positive net flows and driving overall inflows to $13.8 billion. Simultaneously, spot XRP ETFs collected $18 million, elevating their total inflows to approximately $1.8 billion.
At the moment this report was written, Bitcoin changed hands at $83,743, reflecting a 2.7% decrease across a 24-hour window alongside a 9.5% gain over the past week, as reported by CoinGecko.
Related: Bitcoin long liquidations hit $280M as BTC price dips under $84K
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Originally published at https://cointelegraph.com/markets/bitcoin-etf-347-million-inflow-btc-below-84k?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
