- U.S.-based spot Bitcoin ETFs have extended their inflow streak to a seventh day.
- The funds attracted hundreds of millions from investors on Friday.
- BlackRock’s IBIT led the day’s inflows as Grayscale’s GBTC continued to bleed.
U.S.-listed spot Bitcoin exchange-traded funds (ETFs) pulled hundreds of millions from investors on Friday, extending their positive inflow streak to a seventh day.
The development came as Bitcoin’s price surged past $64,000 after being confined within the $59,000 range over the past two weeks. CoinMarketCap data shows that BTC rose over 5% to a daily high of $64,879 before paring some of the gains to exchange hands at $64,318 as of press time.
Bitcoin ETF Inflow on August 23
According to SoSoValue data, U.S.-based spot Bitcoin ETFs witnessed a daily net inflow of $252 million on Friday, marking their best single-day performance in almost a month.
Sponsored
BlackRock’s IBIT led the day’s inflows with $86.83 million, followed by Fidelity’s FBTC, Grayscale’s BTC, and Bitwise’s BITB at $64 million, $50.83 million, and $42.26 million, respectively.
Ark Invest’s ARKB, VanEck’s HODL, Valkyrie’s BRRR, and Invesco’s BTCO pulled a combined daily net inflow of $43.63 million. At the same time, the rest of the funds reported zero flows, apart from Grayscale’s GBTC, which hemorrhaged $35.55 million.
The positive inflow streak brought the weekly total to $506.37 million, a big jump from last week’s $32.58 million. Cumulatively, spot Bitcoin ETFs have pulled a total of $17.88 billion in net inflow since they began trading in January this year.
Stay updated on how institutional investors are increasingly turning to Bitcoin:
Bitcoin ETFs See a 27% Surge in Institutional Adoption in Q2
Read about Russia’s plan for a BRICS stablecoin:
Russia Mulls BRICS Stablecoin Amid Plans to Launch Two Crypto Exchanges