Bitcoin spot ETFs post fifth consecutive day of inflows

Bitcoin spot ETFs are showing a remarkable run: five consecutive days of positive inflow figures. The outflow that hit the market in May and June has thus been fully reversed. Last week, a total of $800M flowed into Bitcoin ETFs, while Ethereum ETFs accounted for some $240M in new inflows.

Bitcoin is available at OKX and Bybit.

In brief:

• Bitcoin spot ETFs have recorded five consecutive days of inflows, with $102M on the most recent day.
• Over the week of 3 to 7 August, a total of $865M flowed into Bitcoin ETFs.
• The inflows are running ahead of the price and do not yet confirm a breakout, according to Farside Investors.

Five consecutive days of positive inflows

According to data from Farside Investors, the Bitcoin spot ETFs recorded an inflow of $102M on the most recent trading day. Ethereum ETFs added $50M to that. Over the past seven days, the total net inflow for Bitcoin stands at $0.8 billion.

That surge contrasts with the situation earlier this year. During May and June, the same ETFs saw large outflows. That damage has now been fully repaired. Over the week of 3 to 7 August, total inflows for Bitcoin rose to $865M.

Inflows run ahead of the price

However, there are caveats to this positive picture. Farside Investors indicates that the inflows are running ahead of the price and that there is no confirmation yet of an actual breakout. The money movements towards the ETFs are therefore not a sign that a price breakout has already materialised.

Analyst Daan notes that Michael Saylor is also selling some Bitcoin here and there, but that the spot ETFs are nonetheless net buyers. The Bitcoin price currently stands at $65.200, up 0.5% over the past 24 hours.