The post Bitcoin ETFs Surge with Over $400 Million Inflows, Fueling Price Uptick and Institutional Interest appeared on BitcoinEthereumNews.com.

Bitcoin ETFs experienced over $400 million in inflows this week, sparking a bullish trend and boosting prices. The inflows followed a previous week of outflows, which occurred as Bitcoin’s price slipped below $55,000. Bitcoin ETFs have become a critical indicator of market sentiment ever since their approval by the United States Securities and Exchange Commission (SEC) on January 10. Bitcoin ETFs see significant inflows this week, signaling bullish market sentiment and heightened institutional interest. Weekly Inflows into Bitcoin ETFs Hit $400 Million This week, Bitcoin ETFs recorded over $400 million in inflows, reversing the earlier trend of outflows. A total of 6,892 BTC was acquired through these ETFs, even as miners produced only 2,250 BTC during the same timeframe. This substantial demand for Bitcoin underscores the market’s positive outlook, driven by various macroeconomic indicators. Record Daily Inflows Mark a Shift At the beginning of the week, Bitcoin ETFs saw $28.6 million in inflows, which surged to $117 million the following day. The momentum peaked on September 13 with an impressive $263.2 million in inflows, the highest figure since July 22. This turnaround has positively impacted the market, boosting the overall market cap and signaling a potential price recovery. Institutional Adoption Leading the Charge Fidelity’s FBTC topped the charts with $102 million in inflows on a single day, while ArkInvest also recorded substantial positive inflows. In contrast, BlackRock’s IBIT began the week in the red and showed no net inflows. Yet, the overall positive shift in ETF inflows has been highlighted by experts like Matt Hougan, CIO of Bitwise, who pointed out significant institutional adoption despite earlier periods of diminished optimism. Impact of Macro-economic Factors Bitcoin ETFs have driven a marked increase in the crypto market, catalyzed by traditional investors pouring funds into these financial products. Earlier this year, Bitcoin’s price…

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Filed under: News - @ September 14, 2024 11:25 pm