Bitcoin spot exchange-traded funds (ETFs) extended net inflows for a seventh straight session, rapidly narrowing net outflows so far this year.

Cointelegraph reported on Aug. 26 that bitcoin spot ETFs recorded $314.37 million of net inflows on Aug. 25, lifting cumulative net inflows for August to $3.03 billion.

Data compiled by analytics firm Sosovalue showed the gap to last October’s monthly net inflow total narrowed to $390 million. With 4 trading days left in August, the August figure could surpass last October’s record.

Year-to-date net outflows for bitcoin spot ETFs fell to $2.26 billion, supported by recent inflows. Total net assets stood at $99.05 billion, while cumulative net inflows since launch totalled $54.36 billion. August inflows have recovered more than half of this year’s net outflows, but it is too early to conclude that flows have fully shifted to a net inflow trend.

ETF net inflows do not immediately lead to price gains. ETF flows are one part of the spot market and are also affected by other factors such as profit-taking on exchanges and moves in derivatives markets. That helps explain why bitcoin has failed to settle above the $80,000 level despite the recent inflows.

Market excitement also cooled somewhat. The Crypto Fear & Greed Index briefly fell to 65 on Aug. 26, but later held around 81, staying in the "greed" zone. That suggests ETF inflows held up despite a short-term price correction.

Inflows also continued into Ethereum spot ETFs. Ethereum spot ETFs recorded $179.80 million of net inflows on Aug. 25, marking a seventh straight session of inflows, as with bitcoin spot ETFs. Total inflows over the past 7 sessions were estimated at about $1 billion.

Bitcoin and Ethereum spot ETFs posting net inflows for 7 straight sessions at the same time shows investment demand is not confined to a single asset. It is an analysis that a broader recovery in inflows is emerging across the crypto ETF market regardless of short-term price moves.

The market is watching whether bitcoin spot ETFs will surpass last October’s monthly net inflow record during the remaining August trading days. If inflows continue, year-to-date net outflows could shrink further. Another focus will be whether bitcoin can settle above $80,000 and whether Ethereum spot ETFs can also sustain the recovery in inflows.