US Bitcoin ETFs hit $1.1B this week, the most since mid-July
As of September 23, spot bitcoin exchange-traded funds (ETFs) in the United States recorded more than $1.1 billion, the biggest inflows week from July 15–19.
According to Farside Investors, it took in $494.4 million on September 27, its best performance since June 4. Spot Bitcoin ETFs saw an inflow of $366 million on September 26.
BlackRock's iShares Bitcoin Trust, ARK 21Shares Bitcoin ETF, and Fidelity® Wise Origin® Bitcoin Fund lead the way with weekly gains of $499 million, $289.5 million, and $206.1 million, respectively.
Invesco and Galaxy, Franklin Templeton, Valkyrie and VanEyck bitcoin funds earned between $5.7 million and $33.3 million, while the Wisdomtree Bitcoin Fund posted no gains for the week.
The US spot Bitcoin ETF will flow between September 23-27. Source: Farside Investors
The latest inflows bring cumulative inflows to 11 spot ETFs to $18.8 billion since they launched in January.
The surge in Bitcoin ETF flows follows the US Federal Reserve's interest rate cut on September 18.
Since then, Bitcoin has increased by 13.8% to $65,800, CoinGecko data shows.
The cryptocurrency is only down 10.8% from its March 14 high of $73,738.
Heading into the fourth quarter, Bitcoin has posted gains of 50% or more in five of the past nine years, according to CoinGlass data.
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Meanwhile, US spot Ether (ETH) ETFs recorded $85 million in inflows this week, making it the biggest week since August 5–9.
In the year Since its launch on July 23, Ethereum products have received just over $1.1 billion, with $2.9 billion in outflows from the Grayscale Ethereum Trust.
The US spot Ether ETF will flow between September 23-27. Source: Farside Investors
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