In the U.S., exchange-traded funds (ETFs) based on Bitcoin have extended their inflow streak to nine trading days. On September 29, Bitcoin ETFs attracted $66.2 million, bringing total inflows during this period to approximately $3.1 billion, according to SoSoValue. Since the beginning of the year, inflows into Bitcoin ETFs have totaled around $1 billion, indicating stable interest in this asset amid market uncertainty.
In contrast, ether ETFs experienced outflows. On September 29, ether funds recorded net outflows of $3 million, ending a seven-day inflow streak during which the funds attracted over $851 million. As a result, the total net inflows into ether ETFs reached approximately $14 billion. Earlier in the week, Zcash-based ETFs also broke their six-day streak, registering an outflow of $8 million on Monday, which also affected market sentiment changes.
At the time of publication, Bitcoin was trading at around $83,567, reflecting a 0.4% decline over the past 24 hours. The fear and greed index in the crypto market also slightly decreased from 73 to 71, remaining in the 'greed' zone. Kyle Rodda, a senior financial markets analyst at Capital.com, noted that "the rise in crude oil prices is limiting non-yielding assets, so Bitcoin's rally has slowed down a bit." He added that Bitcoin may face challenges in regaining upward momentum while energy price risks remain high. In the context of increased market volatility, investor interest in Bitcoin and its ETFs remains a crucial factor, and the future of these assets will depend on global economic trends and sentiments in the cryptocurrency market.
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