US spot Bitcoin exchange-traded funds (ETFs) extended their inflow streak on Wednesday, even as Bitcoin reversed sharply from above $87,000 and slipped below the $84,000 mark.
Data from Farside Investors shows the funds attracted $32.4 million in net inflows on Sept. 23, and the entire amount went into Morgan Stanley’s MSBT. Several major funds, including BlackRock’s IBIT and Fidelity’s FBTC, did not record flows in the latest update.
Bitcoin ETF flows (Source: Farside Investors)
Although Wednesday’s inflow was much smaller than the previous two sessions, it extended an impressive run of positive flows. Bitcoin ETFs brought in $159.5 million on Sept. 17, $433 million on Sept. 18, $999 million on Sept. 21 and $714.7 million on Sept. 22.
Including the preliminary Sept. 23 figure, that puts the five-session inflow streak at roughly $2.34 billion. The biggest day of the streak came on Monday, when close to $1 billion entered the funds, led by BlackRock, Fidelity and ARK Invest.
Bitcoin Retreats Despite Continued ETF Demand
The ETF inflows have not been enough to prevent a sharp Bitcoin pullback over the past 24 hours.
BTC traded above $86,000 but fell sharply toward $84,000. Bitcoin briefly dipped below that level before recovering slightly, leaving the cryptocurrency well below its earlier highs.
BTC’s price action over the past 24 hours (Source: CoinCodex)
The move creates an interesting divergence between ETF demand and Bitcoin’s short-term price performance. While US-listed funds have continued attracting fresh capital, broader selling pressure outweighed those inflows in the spot market.
For now, the ETF streak is still intact, but Wednesday’s slowdown from $714.7 million to $32.4 million will be worth watching. A stronger follow-up session would suggest institutional demand is resilient despite Bitcoin’s weakness, while a return to outflows would end the five-day run.
