Bitcoin News Today: Spot Bitcoin ETFs Attract $219M Inflows After Six-Day Outflow Streak

Spot Bitcoin exchange-traded funds (ETFs) ended a six-day stretch of net outflows on Monday, with a total of $219 million in net inflows recorded, according to ETF data platform SoSoValue. This marked a reversal of investor sentiment following a prolonged period of outflows that began on August 15 and lasted through August 19, when the largest outflow of $523.31 million was recorded, followed by $311.57 million on August 17. The outflow period coincided with a broader market correction in Bitcoin following its record high of $124,128 on August 14, as noted by CoinGecko. By the end of the correction period, Bitcoin had dropped approximately 11% to $110,186 [1].

Among the major ETFs, Fidelity’s Wise Origin Bitcoin Fund (FBTC) led the inflow with $65.56 million, followed closely by BlackRock’s iShares Bitcoin Trust (IBIT) with $63.38 million, and ARK Invest’s ARK 21Shares Bitcoin ETF (ARKB) with $61.21 million. Smaller but positive inflows were also noted in other funds, including Bitwise’s BITB with $15.18 million, Grayscale’s Bitcoin Trust (BTC) with $7.35 million, and VanEck’s HODL fund with $6.32 million [1].

James Butterfill, head of research at CoinShares, attributed the prior outflow streak to polarized investor sentiment around U.S. monetary policy. He noted that pessimism regarding the Federal Reserve’s stance contributed to $2 billion in outflows before sentiment shifted following remarks by Fed Chair Jerome Powell, which were widely interpreted as more dovish than expected. The market responded positively to Powell’s comments, which raised speculation of a potential rate cut in September. The Crypto Fear & Greed Index rose to a “Greed” score of 60, indicating a stronger appetite for risk and renewed confidence among market participants [1].

Despite the recent price correction, the inflows into spot Bitcoin ETFs suggest that investor sentiment is stabilizing and that institutional demand for Bitcoin-backed products remains resilient. The return of inflows after a six-day outflow streak indicates that market participants are beginning to see value in Bitcoin at lower price levels and are potentially positioning for a longer-term investment horizon [1].

Source: [1] Cointelegraph – https://cointelegraph.com/news/spot-bitcoin-etfs-break-outflow-streak-219m-fidelity-blackrock