Bitcoin ETFs attract nearly $1 billion for third consecutive week

Bitcoin spot ETFs have attracted inflows for three weeks in a row. In the week from August 31 to September 4, nearly $987 million flowed in, while Ethereum, Solana and XRP ETFs also posted positive figures. Total assets under management across all Bitcoin ETFs now stand at $101.25 billion, with the Bitcoin price around $79.8K.

Key points:

• Bitcoin spot ETFs recorded $987 million in inflows in the week from August 31 to September 4, the third consecutive week of inflows.
• Ethereum spot ETFs also booked three straight weeks of inflows, with $218 million last week.
• Solana spot ETFs saw inflows for ten consecutive weeks, with $6.2 million in the past week.

Bitcoin ETFs post third consecutive week of inflows

The weekly inflow of $987 million into Bitcoin spot ETFs extends a streak of three consecutive positive weeks. That marks a notable shift after a period of mixed results, in which outflows and inflows regularly alternated.

Earlier, we reported on persistent daily inflows into Bitcoin ETFs. The weekly figures now confirm that broader picture over a longer period.

Ethereum, Solana and XRP follow suit

Ethereum spot ETFs attracted $218 million last week, also marking the third consecutive week with a positive balance. Solana spot ETFs show an even longer streak: ten weeks of inflows in a row, rounded off with $6.2 million in the most recent week.

XRP spot ETFs recorded $18.96 million in inflows, while HYPE spot ETFs accounted for $12.27 million. The growth of HYPE ETFs has been visible in the market for some time.

Bitcoin price remains stuck around $79.000

Despite the persistent inflows into ETFs, the Bitcoin price is still moving sideways for now. At the time of writing, Bitcoin stands at $79K, down 0.4% over the past 24 hours. Earlier this week, the price approached a critical decision point around $80K.

Whether the sustained demand through ETFs will push the price higher in the short term remains uncertain for now. Buying pressure is at its highest level since the bear market, which some analysts view as a positive signal.