The U.S.-listed spot bitcoin exchange-traded funds have pulled in $754.69 million in investor funds this week, according to data source SoSoValue. That puts these funds on track for their best week since April.
“The clearest shift has come in institutional flows,” Liya Kalchev, Analyst at Nexo, said, explaining the ETF inflows.
“Spot Bitcoin ETFs have taken in more than half a billion dollars so far in August, with inflows building through the week and Wednesday alone contributing over $240 million — a sharp reversal from June, when the funds recorded their worst month on record,” Kalchev added.
Note that despite the on-chain and ETF accumulation, BTC’s spot price has not yet been able to chalk out a meaningful rally. That, according to Kalchev, is a telltale sign of the kind of buyer stepping into the market right now.
“That the reversal has not yet lifted price meaningfully is itself informative: some desks argue the…
