BlackRock's IBIT fund led the Capital with $307 million as nearly all US spot Bitcoin ETFs recorded inflows on Wednesday, extending a three-day chain of Capital totaling $1.1 billion.
US spot Bitcoin ETFs saw a sharp increase in Capital on Wednesday, with funds distributed across most issuers, as the price of BTC briefly surpassed $73,000.
According to data from Farside, spot Bitcoin ETFs recorded a net Capital of $462 million , marking the third consecutive day of inflows , bringing the total Capital for the week to $1.1 billion .
This latest surge brings the total year-to-date (YTD) Capital to approximately $700 million , a still relatively modest figure after these funds had previously recorded $3.8 billion in outflows over the previous five consecutive weeks .
Ether ETFs also performed positively, attracting $169 million in Capital , after recording a slight outflow of $11 million on Tuesday .
This cash flow suggests a potential market reversal , as analysts note that the majority of Bitcoin ETFs have now turned Capital since the beginning of the year .
Almost all spot Bitcoin ETFs have seen Capital inflows.
Wednesday was one of the few times when almost all US spot Bitcoin ETFs recorded inflows , with the exception of CoinShares Bitcoin ETF (BRRR), which did not record any new Capital that day.
BlackRock's iShares Bitcoin Trust ETF (IBIT) continues to lead with $307 million in Capital , followed by Fidelity Wise Origin Bitcoin Fund (FBTC) with $48 million and Grayscale Bitcoin Mini Trust ETF (BTC) with $32 million .
According to Bloomberg ETF analyst Eric Balchunas , as of Tuesday, almost all Bitcoin ETFs had turned Capital year-to-date , with only three still recording negative Capital inflows .
These three funds include:
FBTC saw approximately $1.1 billion in Capital outflows.
Grayscale Bitcoin Trust ETF (GBTC) sees $648 million withdrawn.
ARK 21Shares Bitcoin ETF (ARKB) sees $162 million withdrawn.
The wave of new Capital inflows into Bitcoin ETFs is occurring amidst a recovering market sentiment . According to data from Alternative.me, the Crypto Fear & Greed Index has risen 12 points in the last 24 hours .
However, even though Bitcoin has recovered about 20% from its February Dip of $60,000 , the index is still at "extreme fear" levels with a score of 20 .
At the time of writing, Bitcoin is trading around $72,214 , down approximately 8% over the past 30 days , according to data from CoinGecko.
