Bitcoin ETFs attract $1.08 billion in 3 days but it may not be enough for a steep rally Past steep rallies ran on about $235 million a day of net inflows into ETFs.
The funds are yet to match that pace, according to data analyzed by CoinDesk. – U.S.-listed spot bitcoin exchange-traded funds attracted more than $1 billion this week, signaling renewed but still tentative institutional demand. – Bitcoin’s three steep rallies since January 2024 coincided with average daily ETF inflows above $200 million, compared with about $86 million a day since July 1. – A sustained bitcoin rally may require stronger, steadier ETF inflows, though futures trading and direct purchases can also drive prices higher
Bitcoin These U.S.-listed funds have pulled in over $1 billion in investor money this week, according to SoSoValue data. Analysts are calling it a sign of renewed institutional bid for the cryptocurrency, with a warning that the pace must remain robust for a sustained uptick in bitcoin’s price. “Institutional demand shows tentative improvement. However, flows remain volatile and sustained inflows are needed to confirm a stronger recovery,” Vikram Subburaj, CEO of India-based Giottus, said in an email.
History offers some support. Steep uptrends have been characterized by average daily net inflows of over $200 million. Since the funds launched in January 2024, bitcoin has had three steep rallies.