U.S. exchange-traded funds (ETFs) holding spot
bitcoin witnessed inflows totaling $552.78 million on Thursday, marking the fourth straight day of positive investment.
This represents the most extended period of consistent inflows since August 28th and matches the stretch ending August 14th. Notably, the seven-day period ending August 14th coincided with bitcoin reaching its record high price point exceeding $123,000. Data from
SoSoValue indicates
the single-day inflow figure of $757.14 million observed on Wednesday was the highest since July 16th.
Spot ether (ETH) ETFs are also
experiencing a surge of inflows
. Thursday’s positive activity marked the third consecutive day of inflows, following six consecutive days of capital leaving the funds. During this outflow period, over $1 billion was removed.
Both bitcoin and ether have seen price gains during the latter portion of the week, potentially bolstered by
speculation surrounding a potential interest rate cut
by the U.S. Federal Reserve, slated for September 17th.
Over the last three days,
Bitcoin’s value has increased by approximately 3.2%
, pushing it just above $115,000,
according to CoinDesk data
. Meanwhile,
Ether has seen a gain of roughly 5%
, allowing it to retake the $4,500 level.