US spot Bitcoin exchange-traded funds (ETFs) reported net inflows of $191 million on Thursday, continuing a downward trend for the third day in a row. This brings the total inflows over the past six sessions to an impressive $2.8 billion.
After reaching a high of $999 million on Monday, daily inflows have decreased significantly, with Thursday's figures showing an 81% drop. Bitcoin's price also retreated from above $87,000 during this period.
Year-to-date net flows for Bitcoin ETFs now stand at approximately $787 million, a remarkable recovery from a deficit of $5.5 billion recorded at the end of June. September alone has seen inflows of $2.56 billion, following $3.52 billion in August.
The largest US spot Bitcoin ETF, BlackRock’s iShares Bitcoin Trust (IBIT), was responsible for about $163 million of Thursday’s inflows, contributing nearly half of the total inflows during the six-day streak.
As of the latest update, Bitcoin is trading at $83,807, reflecting a 0.3% decline over the past 24 hours but maintaining an 8% increase over the last week, according to CoinGecko.