US spot Bitcoin ETFs recorded strong inflows on Wednesday, with most issuers posting gains as BTC briefly climbed above $73,000.
Spot Bitcoin ETFs attracted $462 million in net inflows, marking the third straight day of positive flows and pushing the weekly total to around $1.1 billion, according to data from Farside.
Despite the recent surge, year-to-date inflows remain relatively modest at about $700 million, following a five-week stretch of outflows that saw $3.8 billion leave the funds.
Meanwhile, Ether funds mirrored the positive sentiment, bringing in $169 million after registering minor outflows of $11 million the previous day.
The inflow streak signals a potential shift in market momentum, with analysts noting that most Bitcoin ETFs have now returned to net positive flows for the year.
Nearly all spot Bitcoin ETFs recorded inflows on Wednesday, with the exception of the CoinShares Bitcoin ETF (BRRR), which saw no new funds added.
BlackRock’s iShares Bitcoin Trust (IBIT) led the pack with $307 million in inflows, followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) with $48 million and the Grayscale Bitcoin Mini Trust ETF (BTC) with $32 million.
According to Bloomberg ETF analyst Eric Balchunas, nearly all Bitcoin ETFs had shifted to net positive year-to-date flows as of Tuesday, with only three funds still in negative territory.
Those remaining in the red include Fidelity’s Wise Origin Bitcoin Fund (FBTC), which has recorded $1.1 billion in outflows, along with the Grayscale Bitcoin Trust ETF (GBTC) and the ARK 21Shares Bitcoin ETF (ARKB), which have seen $648 million and $162 million in outflows, respectively.
The latest inflows into Bitcoin ETFs come as market sentiment shows signs of improvement, with the Crypto Fear & Greed Index rising by 12 points over the past 24 hours, according to data from Alternative.me.
Even though Bitcoin has rebounded roughly 20% from its February low of $60,000, the index still sits in the “extreme fear” zone with a score of 20.
At the time of writing, Bitcoin was trading at $72,214, marking a decline of about 8% over the past 30 days, based on CoinGecko data.
