Bitcoin ETFs Extend 9-Day Inflow Streak to $3.1B as Ether, Zcash Funds Bleed
US spot Bitcoin exchange-traded funds pulled in $66.2 million on Tuesday, extending their net inflow streak to nine consecutive trading days and bringing the total over that run to roughly $3.1 billion, according to data from SoSoValue. Year-to-date net inflows for the funds have climbed back to approximately $1 billion, signaling a notable recovery in institutional appetite after months of tepid demand. Bitcoin itself traded near $83,567 at publication time, down about 0.4% over the prior 24 hours per CoinGecko.
The bullish ETF narrative, however, did not extend to the rest of the crypto fund market. Spot Ether ETFs ended a seven-day inflow streak with roughly $3 million in net outflows on Tuesday, a sharp reversal after those funds had absorbed more than $851 million during the prior week. Ether ETFs' cumulative net inflows now stand near $14 billion. Meanwhile, Zcash ETFs posted $8 million in net outflows on Monday, snapping their own six-day streak.
Crypto market sentiment softened alongside the altcoin outflows. Alternative.me's Crypto Fear & Greed Index slipped to 71 from 73, though it remains firmly in "Greed" territory. "The rise in crude prices is capping non-yielding assets, so Bitcoin's rally has taken a bit of a pause," Kyle Rodda, senior financial market analyst at Capital.com, told Cointelegraph. Rodda cautioned that Bitcoin may struggle to regain upward momentum while energy-price risks persist, but added that the technical picture remained "quite constructive," suggesting the ETF inflow streak is unlikely to derail without a broader macro shock.
Read Full Article at CoinTelegraph →