US Bitcoin ETFs See $1.1 Billion Weekly Inflow, $494 Million on Friday, Buying 16,893 BTC

Sep 30, 2024, 08:09 AM

U.S. spot Bitcoin ETFs experienced a significant surge in inflows last week, marking the highest single-day inflow since June. On Friday alone, Bitcoin ETFs saw $494.27 million in inflows, contributing to a total of $1.1 billion for the week. BlackRock's ETF led with $499 million, followed by Ark's ARKB fund with $269 million, and Fidelity's ETF with $206 million. This influx represents a substantial increase in investor interest, driven partly by BlackRock's recent SEC approval. Bitcoin ETFs bought 16,893 BTC worth $1.1 billion this week, equivalent to nearly 37 days of newly mined supply. In total, U.S. Bitcoin ETFs now hold 924,768 BTC, nearing 5% of the global supply.