The post Bitcoin ETF Inflows Surge Past $1 Billion, Sparking Bull Run Speculation appeared on BitcoinEthereumNews.com.

U.S.-listed spot Bitcoin exchange-traded funds (ETFs) finished the week strong, attracting over $1.1 billion in inflows and extending their positive streak to seven consecutive days. This surge in demand, following a period of slowed growth in late August and early September, signals renewed institutional interest in Bitcoin and aligns with a broader market rally potentially fueled by the Federal Reserve’s recent interest rate cut. Spot Bitcoin ETFs in the U.S. saw heightened demand this week, attracting over a billion dollars from investors. This continued inflow signifies increasing institutional demand for the funds, which have pulled a combined $18.8 billion in total net inflow since their debut in January. According to SoSoValue data, spot Bitcoin ETFs witnessed a total net inflow of $494.27 million on September 27, a notable jump from the previous day’s $365.57 million. Ark Invest and 21Shares’ ARKB led the 12 funds for the second consecutive day with $203.07 million in net inflows, as Fidelity’s FBTC and BlackRock’s IBIT, the largest Bitcoin ETF by net assets, attracted $123.61 million and $110.8 million respectively. Even Grayscale’s GBTC, which had been experiencing outflows, pulled in a surprise inflow of $26.15 million on Friday. Notably, none of the Bitcoin ETFs experienced outflows during this period. Cumulatively, the funds have attracted $1.1 billion in weekly net inflows, a strong performance that buoyed the Bitcoin price over the past seven days. At the time of writing, the crypto asset traded at $65,581 after gaining 5% in the past week, CoinMarketCap data shows. The U.S. spot Bitcoin ETF market is seeing a massive spike, with inflows surpassing $1 billion this week alone. Institutional demand for Bitcoin has jumped, boosted by the Federal Reserve’s rate cuts, and BlackRock is at the forefront. The asset management giant has raised its Bitcoin ETF (IBIT) holdings to 198,874…

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Filed under: News - @ September 28, 2024 5:17 pm