Bitcoin ETFs Attract $2.8 Billion in Eight Consecutive Days as BTC Approaches $80K
U.S. spot Bitcoin ETFs have drawn a total of $2.8 billion over eight consecutive trading days, with BlackRock's IBIT leading the inflows at $2.02 billion or 72% of the total. Meanwhile, Grayscale’s GBTC has seen outflows totaling $50.4 million in one day alone and is down by $27.6 billion since launch compared to IBIT's gains of $63.1 billion. Bloomberg ETF analyst Eric Balchunas noted that Bitcoin and gold funds have drawn a combined record $7 billion over the past five days, signaling strong investor interest amid a shift away from AI-related trades. Weekly trading volume has surged to nearly $90 billion with Bitcoin accounting for almost half of it. Analysts suggest sustained inflows beyond five days indicate ongoing spot demand. Senior researcher Tim Sun at HashKey cautioned against using single-day ETF flows as predictive indicators, noting that the current streak follows a correction in BTC's price and reflects growing market consensus on a temporary bottom forming around $72K to $80K. Resistance is expected near $85K.
Topics: Bitcoin BlackRock ETFs Grayscale market inflows