U.S. Spot Bitcoin ETFs See Record $1.1 Billion Weekly Inflow

Written By
G. Dautovic
Updated
September 29,2024

The U.S. spot Bitcoin exchange-traded funds (ETFs) market experienced a remarkable surge this week, attracting over $1.1 billion in inflows between September 23 and 27. 

This was the largest weekly inflow after a shaky two months for the world's leading cryptocurrency, reflecting a renewed institutional interest following the Federal Reserve’s recent rate cuts.

The most significant day was definitely September 27, which, according to SosoValue, saw $494.27 million flowing into Bitcoin ETFs, marking the best single-day performance since June 4.

ARKB recorded the highest inflow of $203 million, followed by FBTC with $124 million and BlackRock’s IBIT with $110 million.

This marked the third consecutive week where Bitcoin ETFs recorded cumulative weekly net  inflow, as the price of Bitcoin rose by 10% in the same period of time, once again climbing closer to its all-time high achieved in March of this year and sparking talk of a fresh bull run to close out 2024.

This renewed optimism has impacted other cryptocurrencies as well, particularly Ethereum, which saw $85 million in inflows during the same week, with Fidelity’s FETH leading the way, and Blackrock’s Ethereum ETF now passing $1 billion in asset value.

About author

I have always thought of myself as a writer, but I began my career as a data operator with a large fintech firm. This position proved invaluable for learning how banks and other financial institutions operate. Daily correspondence with banking experts gave me insight into the systems and policies that power the economy. When I got the chance to translate my experience into words, I gladly joined the smart, enthusiastic Fortunly team.

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