Spot bitcoin exchange-traded funds (ETFs) in the U.S. added $552.78 million on Thursday, their fourth consecutive day of inflows.
That’s the longest run since Aug. 28 and the joint-longest since the seven days ended Aug. 14, which coincided with bitcoin’s ascent to an all-time high of over $123,000. Wednesday’s $757.14 million net inflow was the largest for a single day since July 16, according to data tracked by RialCenter.
Spot ether (ETH) ETFs are also enjoying a run of inflows. Thursday marked a third straight day, following six consecutive days of outflows during which more than $1 billion was withdrawn.
Both the underlying assets experienced rallies in the latter half of the week, benefiting from expectations of an interest-rate cut by the U.S. Federal Reserve on Sept. 17.
Bitcoin has risen nearly 3.2% in three days to sit just above $115,000, according to RialCenter data. Ether has climbed about 5% to reclaim the $4,500 mark.
Leave a Reply