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U.S. Bitcoin ETFs See $1.1 Billion Inflows, $494M on Friday

Sep 30, 2024, 11:48 AM

The past week saw significant inflows into U.S. Bitcoin ETFs, totaling $1.1 billion, marking the highest weekly inflow since mid-July. Leading the charge were BlackRock's IBIT with $499 million and 21Shares' ARKB with $269 million. This surge in inflows has brought U.S. Bitcoin ETFs' total holdings to 924,768 BTC, representing 4.68% of the global supply. The trend indicates growing institutional interest, with BlackRock and Fidelity's ETFs alone accounting for $1.05 billion in trading volume in a single day. Notably, Friday saw $494M in net inflows, the largest day of inflows in nearly four months. Additionally, digital asset investment products saw a total inflow of $1.2 billion for the third consecutive week, driven by expectations of dovish U.S. monetary policy. Bitcoin led these inflows with $1 billion, while Ethereum ETFs reversed their outflow trend, bringing in $87 million.