Bitcoin Spot ETFs See $194 Million Inflows, Bitcoin Price Rebounds

Bitcoin spot exchange-traded funds (ETFs) witnessed significant inflows totaling $194.6 million on Thursday, according to data from Fireside Investors. This surge in investment comes amid a broader market rebound following recent volatility.

Leading Bitcoin ETFs

The BlackRock iShares Bitcoin ETF, trading under the ticker symbol “IBIT,” continues to lead the market, attracting $157.6 million in inflows. It now boasts over $22 billion in assets under management (AUM). Meanwhile, the Fidelity Wise Origin Bitcoin ETF (FBTC) saw $65.2 million in inflows. However, the Grayscale Bitcoin Trust continues to experience outflows, diverging from the trend of its peers.

Market Performance

Earlier this week, Bitcoin prices experienced notable fluctuations, dropping from around $61,000 to $49,000. As of Friday, Bitcoin has rebounded and is trading around $60,000, recovering from the recent sell-off. This rebound also coincides with a recovery in global stock markets, which clawed back losses from earlier in the week. Japan’s Nikkei index, which had slumped more than 12% on Monday—the worst loss since 1987—has since bounced back, though some volatility remains.

Trading Volume Surge

On August 5, during the market downturn, trading volumes for Bitcoin ETFs surged past $1 billion, indicating heightened activity across the digital assets sector. Alex Thorn, head of research at Galaxy Digital, noted the “extremely elevated” trading volumes, particularly in Bitcoin ETFs, following the market drawdown.

Crypto Market Confidence

Despite recent volatility, investor confidence in the cryptocurrency sector remains strong. On Tuesday, Binance, the largest cryptocurrency exchange in the world, recorded a net inflow of $1.2 billion within 24 hours, marking one of the highest net inflow days this year. This substantial activity highlights the robust interest and confidence in digital assets, even amid market fluctuations.