U.S. Bitcoin spot exchange-traded funds (ETFs) have seen net inflows for six consecutive trading days.
According to SosoValue, a virtual asset data platform, Bitcoin spot ETFs recorded a net inflow of 337.6 million USD on Monday. This marks the sixth straight day of net inflows, with total incoming funds reaching 2.26 billion USD during this period.
This recent influx has reduced the year-to-date cumulative net outflow for Bitcoin spot ETFs to 2.57 billion USD. Notably, the net inflow from August 17 to 21 totaled 1.92 billion USD, the largest weekly net inflow since October last year.
Ethereum spot ETFs also experienced a net inflow of 115.6 million USD on Monday, continuing the trend for six consecutive trading days. However, their year-to-date cumulative net outflow still stands at 1.3 billion USD.
There’s been a growing trend of investors converting their Bitcoin holdings into ETFs. Bloomberg reported that BlackRock’s decision last month to lower the minimum ETF conversion amount from 25 million USD to 1 million USD has led to an increase in investors transferring Bitcoin from personal wallets or exchanges into spot ETFs.