Bitcoin ETF attracts $462 million, BTC briefly surpasses $73,000

On Wednesday, the US spot Bitcoin ETF recorded a single-day net inflow of $462 million. Nearly all major funds, except CoinShares Bitcoin ETF (BRRR), experienced capital inflows, with a three-day total of $1.1 billion. Bitcoin (BTC) price briefly surged above $73,000 during the day and has since fallen back to $72,214 at the time of writing.

Fund Inflows Overview: IBIT Leads with $307 Million in a Single Day

(Source: Farside Investors)

BlackRock’s iShares Bitcoin Trust ETF (IBIT) led the day with $307 million in inflows, accounting for about two-thirds of Wednesday’s total inflows, reinforcing its dominant position in the US spot Bitcoin ETF market. The fund flows for major funds on Wednesday are as follows:

IBIT (BlackRock iShares Bitcoin Trust ETF): $307 million

FBTC (Fidelity Wise Origin Bitcoin Fund): $48 million

Grayscale Bitcoin Trust ETF (BTC): $32 million

BRRR (CoinShares Bitcoin ETF): $0, the only fund with zero inflow

However, the year-to-date net capital flows for these three funds remain negative: FBTC has outflows of $1.1 billion, Grayscale Bitcoin Trust ETF (GBTC) has outflows of $648 million, and ARK 21Shares Bitcoin ETF (ARKB) has outflows of $162 million.

Reversing Five Weeks of Outflows: Market Implications of $1.1 Billion Inflows Over Three Days

The three consecutive days of inflows signal a shift after a notably sluggish period. Previously, US spot Bitcoin ETFs experienced five consecutive weeks of net outflows totaling approximately $3.8 billion, reflecting ongoing caution in the market during the broader crypto correction.

The $1.1 billion inflow over three days brings the total net inflow for the year to about $700 million, still modest compared to last year’s peak levels. In this context, the scale and persistence of this capital return are key indicators for assessing whether a fundamental trend reversal is underway.

Market Sentiment: Fear Index Rises but Remains in “Extreme Fear” Zone

According to Alternative.me’s Crypto Fear & Greed Index, the index increased by 12 points over the past 24 hours but remains at 20 out of 100, staying in the “Extreme Fear” zone. Although Bitcoin has rebounded about 20% from its February lows, it has declined roughly 8% over the past 30 days overall, indicating a clear improvement in market sentiment but still at an early stage.

Frequently Asked Questions

Does three days of Bitcoin ETF inflows indicate a market trend reversal?
The $1.1 billion inflow over three days follows five weeks of total outflows of about $3.8 billion. The net inflow of approximately $700 million year-to-date suggests a positive shift, but more sustained inflows are needed to confirm a trend reversal.

Why does IBIT continue to lead in Bitcoin ETF fund inflows?
BlackRock’s IBIT is the largest Bitcoin ETF product managed by a global asset management firm. Its brand trust, liquidity, and institutional preference have attracted the most capital, with total inflows reaching $62.4 billion, far surpassing other similar products.

What is the current level of the Bitcoin Fear & Greed Index?
According to Alternative.me, the index currently scores 20, still in the “Extreme Fear” zone, but it has increased by 12 points in the past 24 hours. Although Bitcoin has rebounded 20% from its February lows, its performance over the past 30 days remains down about 8%, indicating that sentiment has improved but the overall outlook remains cautious.