Inflows Noted in Bitcoin ETFs for 29 Out of 33 Days - Significance of this Trend

Bitcoin ETFs have experienced net inflows for 29 of the last 33 trading days, with a total accumulation of over $55 billion, indicating a continued bullish sentiment in the crypto market. This has been amidst a consolidation phase where Bitcoin is trading near $116,000-$119,000. On July 30, the net inflows into Bitcoin ETFs were $47.03 million, with BlackRock's IBIT and Bitwise's BITB leading the way.

Ethereum ETFs also saw an extended streak with $5.79 million in net inflows, with significant contributions from BlackRock's ETHA and Grayscale's ETHE. Institutional investment and positive regulatory developments are seen as strengthening the potential for new highs, despite Bitcoin being currently rangebound.