Spot Bitcoin exchange-traded funds (ETFs) traded in the US saw net inflows totaling $552.78 million on Thursday, reflecting a renewed strong focus on Bitcoin from institutional investors.
$553 Million Inflow into Spot Bitcoin ETFs in a Single Day
According to SoSoValue data, the largest inflow was into BlackRock’s IBIT fund, with $366.2 million. Fidelity’s FBTC fund reported $134.7 million, and Bitwise’s BITB fund reported $40.43 million. Funds owned by VanEck, Invesco, and Franklin Templeton also saw positive flows.
With this data, Bitcoin ETFs recorded net inflows for the fourth consecutive day. Total inflows over the past four days reached $1.7 billion. “Institutional fund flows indicate a return of capital to Bitcoin and positions being taken ahead of the Fed’s interest rate decisions,” said Vincent Liu, CIO of Kronos Research.
Bitcoin ETFs saw $751 million in outflows in August. Spot Ethereum ETFs, on the other hand, had one of their strongest months, seeing $3.87 billion in inflows during the same period. While ETH funds experienced outflows in the first days of September, they saw $113.12 million in inflows on Thursday.
According to the latest data, Bitcoin is trading at $115,455, while Ethereum is trading at $4,553. Analysts warn that if ETF inflows continue, Bitcoin could test its all-time high.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/institutional-investors-turn-to-bitcoin-etfs-see-significant-inflows-here-are-the-details/
