Key facts
- U.S. spot Bitcoin ETFs have attracted $2.8 billion in cumulative inflows over eight consecutive trading days.
- Bitcoin traded near $79,520 on Thursday, approaching the $80,000 mark.
- BlackRock's IBIT has been the largest contributor, drawing $2.02 billion during the streak.
- Grayscale's GBTC has experienced outflows, losing $50.4 million on Wednesday alone.
- Combined, gold and Bitcoin ETFs have seen $7 billion in inflows over the past week, a record for a five-day period.
U.S. spot Bitcoin exchange-traded funds (ETFs) have experienced a remarkable eight-day streak of inflows, drawing a total of $2.8 billion. This sustained demand has coincided with Bitcoin's price testing the $80,000 mark, trading around $79,520 on Thursday. While daily inflows have moderated from a peak of $606 million on August 20 to $232 million on Wednesday, the continuous influx signals growing investor confidence and acceptance of current price levels.
BlackRock's iShares Bitcoin Trust (IBIT) has been a dominant force, accounting for $2.02 billion, or 72%, of the total inflows during this period. In contrast, Grayscale's Bitcoin Trust (GBTC) has continued to see outflows, shedding $50.4 million on Wednesday alone. Since their launch, cumulative net inflows for spot Bitcoin ETFs stand at $54.7 billion, with IBIT attracting $63.1 billion while GBTC has lost $27.6 billion.
Bloomberg ETF analyst Eric Balchunas noted that gold and Bitcoin funds have collectively drawn $7 billion in the past week, calling it a record for a five-day period. He attributed this surge to a "debasement trade" drawing attention away from AI-related investments and highlighted that IBIT's year-to-date flows have turned positive.
Stephen Wundke of Algoz Technologies reported that weekly trading volume exceeded $90 billion, roughly double the average, with Bitcoin comprising nearly $40 billion of that. He also noted that weekly ETF inflows of nearly $2 billion matched the previous 30 days combined, suggesting August could be the best month for inflows since October 2025.
Tim Sun, a senior researcher at HashKey, advised caution against overemphasizing single-day flows, noting a positive long-term correlation below 0.5 between flows and prices since 2024. He described ETF flows as a trend-confirmation indicator rather than a leading one. However, he stated that streaks of sustained inflows beyond five consecutive days signal "sustained spot demand." The current run follows a significant correction, indicating increased acceptance of the current price range and strengthening market consensus on a temporary bottom. Sun noted that while new capital is still arriving, the marginal strength of buying is weakening, fitting a market that has moved past $80,000 into territory with both trapped positions and profit-taking. He identified a resistance zone near $85,000.