Bitcoin ETF inflows hit $606.29 million on August 20. This marks the fourth consecutive day of inflows.
The total is the largest single-day haul since May 1. Bitcoin traded at $77,087, continuing the market-wide rally.
Why Bitcoin ETF inflows matter
Thursday’s inflow followed $517.19 million on August 19. It also followed $189.30 million on August 18. August 17 saw $297.56 million in inflows.
The four-day run pushed cumulative net inflows to $53.40 billion. The last time Bitcoin ETFs booked a bigger single day was May 1. That day brought in $629.73 million. Total net assets crossed $100 billion for the first time then.
BlackRock’s IBIT led the day’s inflows with $502.99 million. This was more than 80% of the day’s total. The broader crypto market rally lifted Bitcoin this week. It also coincided with a wave of short liquidations squeezing bearish positions.
Ethereum demand builds alongside Bitcoin
Ethereum ETFs have moved in step with their Bitcoin counterparts. The category booked $189.15 million on August 19. This was its largest single-day inflow in 10 months. It added a further $221 million on August 20.
The simultaneous four-day streaks in both categories suggest institutions are building positions across both assets. They do not appear to be rotating between them.
Total value traded across Bitcoin ETFs reached $5.41 billion on August 20. Total net assets stood at $90.16 billion.
Whether the pace holds into next week may depend on the rally itself. Four straight days of buying could give way to profit-taking. This could happen if momentum stalls.
