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Money keeps showing up for Bitcoin ETFs even as the coin itself takes a breather. US spot Bitcoin funds pulled in roughly $347 million on Wednesday, stretching their inflow streak to five consecutive trading days — right as Bitcoin slid back under $84,000 after briefly touching $87,000 earlier in the week. It’s the kind of split screen crypto traders know well: institutional buyers still stepping in, spot price still getting shoved around.
That $347 million was actually the smallest of the five sessions. SoSoValue data puts the five-day haul at about $2.65 billion, with Monday’s $998.95 million standing as a 2026 high and Tuesday landing at $714.75 million before Wednesday’s pullback. Zoom out further and September alone has brought in $2.37 billion, enough to erase earlier monthly losses and push year-to-date inflows to roughly $596 million — a number that looked shaky just weeks ago.
Who’s Actually Buying
BlackRock’s IBIT kept its usual lead, taking in $166 million on Wednesday, with Fidelity’s FBTC close behind at $143 million, according to Farside Investors. The demand isn’t limited to Bitcoin, either. Spot Ether ETFs logged their fourth straight day of inflows, adding about $105 million and pushing cumulative inflows to $13.8 billion. XRP’s spot funds, smaller but steady, brought in $18 million for a cumulative total near $1.8 billion.
Bitcoin itself was changing hands around $83,743 at last check, down 2.7% over 24 hours but still up 9.5% for the week. By Thursday morning it was hovering near $84,000 — a level last seen consistently in late January — after having briefly poked above $87,000 days earlier.
The Fed, the Senate, and a Crowded Derivatives Book
None of this happened in a vacuum. The rally survived two events many expected to weigh on it: the Senate’s failed cloture vote on crypto market-structure legislation and a quarter-point rate hike from the Federal Reserve. Instead of stalling the bounce, both came and went while ETF creations kept climbing. Underneath the spot buying, traders were also unwinding short positions as Bitcoin broke above $84,000-$85,000, adding extra fuel to the move. Perpetual futures open interest has climbed back toward levels last seen in late October 2025, a reminder that leverage — not just fresh cash — is doing some of the lifting.
The broader digital-asset market has followed Bitcoin back toward the $3 trillion mark, reversing a slide that had dragged prices into the mid-$70,000s earlier in September. Whether that holds now comes down to a simple test: does ETF demand keep showing up once the short squeeze runs its course, or does Wednesday’s smaller print turn out to be the start of a fade?
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
