US spot Bitcoin exchange-traded funds (ETFs) have raised more than $2 billion over the past two weeks amid renewed optimism. At the same time, the cryptocurrency fear and greed index has reached its highest level since the end of June, according to data from SoSoValue and Alternative.me.
Data from Alternative.me shows the Crypto Fear and Greed Index rose 14 points to 74 on Saturday. The rise in the index comes after the price of Bitcoin (BTC) hit a local high of $66,800 on Friday evening, according to TradingView.
Last week the index remained in the “fear” zone. Despite the bearish market sentiment, spot Bitcoin ETFs in the US raised more than $1 billion in funds in a week. The inflow continued this week.
Bitcoin ETFs started the week on a high note, with $301 million in capital flowing into the funds on Monday. More than $1 billion was invested in the funds over the four days excluding Friday, with Tuesday recording the largest daily inflow of more than $422 million.
IBIT BlackRock was leading this week with inflows of about $706 million, according to SoSoValue and Farside.
Over the past two weeks, IBIT inflows have reached $1.2 billion, representing 50% of the total inflows into the eleven spot funds during this period. For this reason, the fund remains the largest spot Bitcoin ETF with nearly $22 billion in assets under management as of July 19.
Fidelity's FBTC received about $244 million this week, and Bitwise's BITB reported more than $70 million. Other inflows included ARKB from ARK Invest, HODL from VanEck, BTCO from Invesco, EZBC from Franklin Templeton, BRRR from Valkyrie, and BTCW from WisdomTree.