Bitcoin ETFs Record Fourth Consecutive Day of Inflows, Adding $550M

Spot bitcoin (BTC) exchange-traded funds (ETFs) in the U.S. added $552.78 million on Thursday, their fourth consecutive day of inflows.

That’s the longest run since Aug. 28 and the joint-longest since the seven days ended Aug. 14, which coincided with bitcoin’s ascent to an all-time high of over $123,000. Wednesday’s $757.14 million net inflow was the largest for a single day since July 16, according to data tracked by SoSoValue.

Spot ether (ETH) ETFs are also enjoying a run of inflows. Thursday marked a third straight day, and followed six consecutive days of outflows during which more than $1 billion was withdrawn.

Both the underlying assets experienced rallies in the latter half of the week, benefiting from expectations of an interest-rate cut by the U.S. Federal Reserve on Sept. 17.

Bitcoin has risen nearly 3.2% in three days to sit just above $115,000, according to CoinDesk data. Ether has climbed about 5% in to reclaim the $4,500 mark.