The U.S. spot bitcoin ETFs reported a significant net inflow of $147.37 million on Wednesday, marking the fourth consecutive day of positive fund movements.

Fidelity’s FBTC spearheaded the inflows on Wednesday, attracting $57.79 million, according to data from SoSoValue. Following closely was Franklin Templeton’s spot bitcoin fund, which amassed $31.66 million, its highest intake since early May.

BlackRock’s IBIT, the spot bitcoin fund with the largest net asset value, recorded net inflows of $22.24 million yesterday. Meanwhile, Valkyrie’s BRRR witnessed net inflows of $20.68 million.

Invesco and Galaxy Digital’s BTCO also reported inflows around $9.5 million. However, funds from Ark Invest, 21Shares, Bitwise, and VanEck saw smaller net intakes.

Conversely, Grayscale’s GBTC, the second largest bitcoin ETF, was the sole fund to report net outflows yesterday, amounting to $8.15 million.

In total, $1.25 billion worth of value was traded across the 11 spot bitcoin funds on Wednesday. However, the trade volume in spot bitcoin ETFs remains significantly lower compared to the peaks of March and April this year, where daily trades exceeded $12 billion. Since January, these ETFs have accumulated a total net inflow of $15.42 billion.

Bitcoin’s value (BTC -1.77%) fell by 2% to $57,623 in the past 24 hours, according to The Block’s bitcoin price page. Despite a recovery from last week’s decline, it remains notably below the over $70,000 range observed in early June. Crypto investors continue to face uncertainties in the market, particularly concerning the Mt. Gox payout distributions and selling pressure stemming from the German government’s bitcoin moves.

Meanwhile, Matt Hougan, chief investment officer at crypto asset manager Bitwise, opined that bitcoin could potentially reach $100,000 by year-end. This projection is based on factors such as evolving political attitudes towards bitcoin and potential interest rate cuts by the U.S. Federal Reserve.