On Thursday, U.S. spot Bitcoin exchange-traded funds (ETFs) recorded $89 million in net inflows, achieving the longest period of positive flows since December 2022.
This brings the total inflows over the last 10 trading days to $1.06 billion, although this amount is significantly less than the $1.2 billion in a single-day inflow noted on January 17.
Analyst Min Jung from Presto Research pointed out that while institutional interest in Bitcoin continues, the current inflows are regarded as relatively modest compared to earlier in the year. “This indicates that, while institutions are not fully risk-on, there is still a demand for Bitcoin exposure in the market,” Jung remarked.
Fidelity’s FBTC played a significant role in Thursday’s inflows, attracting $97.14 million, while BlackRock’s IBIT saw nearly $4 million in new investments. In contrast, Invesco’s BTCO experienced outflows of around $7 million, and WisdomTree’s BTCW saw a decrease in assets by $5 million.
The fluctuations in both the cryptocurrency and broader equity markets have been affected by recent policy announcements from U.S. President Donald Trump regarding tariffs on foreign nations. Although there has been a slight recovery in investor confidence, ongoing uncertainties are still impacting market sentiment.
In a contrasting trend, spot Ether ETFs have seen net outflows on all but two days since February 20, highlighting a divergence in investor interest between Bitcoin and Ether.
According to the latest reports, Bitcoin is trading at $86,024, representing a 1.5% decline over the past 24 hours. Ether has decreased by 4.7%, currently priced at $1,929. The ongoing inflows into Bitcoin ETFs reflect a sustained, though cautious, demand for cryptocurrency exposure amidst fluctuating market conditions.
