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Bitcoin ETFs attract $1.08 billion in 3 days but it may not be enough for a steep rally

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◎ Multiple-sources

Spot bitcoin ETFs: Daily inflows. (SoSoValue/CoinDesk)

Bitcoin BTC $84,459.46 exchange-traded funds (ETFs) are back in favor, but not yet at the pace that has historically fueled steep rallies.

Key facts

Summary

U.S.-listed spot bitcoin exchange-traded funds attracted more than $1 billion this week, signaling renewed but still tentative institutional demand. Bitcoin’s three steep rallies since January 2024 coincided with average daily ETF inflows above $200 million, compared with about $86 million a day since July 1. A sustained bitcoin rally may require stronger, steadier ETF inflows, though futures trading and direct purchases can also drive prices higher. These U.S.-listed funds have pulled in over $1 billion in investor money this week, according to SoSoValue data.

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