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US Bitcoin ETFs raked in $1.1B this week, most since mid-July

News Feed - 2024-09-29 01:09:20

Brayden Lindrea20 hours agoUS Bitcoin ETFs raked in $1.1B this week, most since mid-JulyBlackRock, ARK 21Shares and Fidelity’s Bitcoin products led the way with $499 million, $289.5 million and $206.1 million in inflows, respectively.6349 Total views8 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onSpot Bitcoin exchange-traded funds (ETFs) based in the United States have raked in more than $1.1 billion since Sept. 23, the largest week of inflows since July 15–19.


According to Farside Investors, it included $494.4 million on Sept. 27, the best-performing day since June 4. Spot Bitcoin ETFs saw inflows of $366 million on Sept. 26.


BlackRock’s iShares Bitcoin Trust, the ARK 21Shares Bitcoin ETF and the Fidelity® Wise Origin® Bitcoin Fund led weekly flows with $499 million, $289.5 million and $206.1 million, respectively.


The Invesco and Galaxy, Franklin Templeton, Valkyrie and VanEck Bitcoin funds saw inflows between $5.7 million and $33.3 million, while the WisdomTree Bitcoin Fund didn’t record any inflows during the week.US spot Bitcoin ETF flows between Sept. 23–27. Source: Farside Investors


The latest inflows bring aggregate inflows for the 11 spot ETFs combined to $18.8 billion since they launched in January. 


The rise in spot Bitcoin ETF flows follows the US Federal Reserve’s interest rate cut on Sept. 18. 


Since then, Bitcoin has rallied 13.8% to $65,800, CoinGecko data shows.

The cryptocurrency is now only 10.8% off its all-time high price of $73,738 set on March 14.


With the fourth quarter about to kick off, Bitcoin has recorded gains of 50% or higher in Q4 of five of the last nine years, CoinGlass datashows.


Related:‘Sustained’ Bitcoin ETF inflows may ‘buoy’ price despite slowing spot buying


Meanwhile, US spot Ether (ETH) ETFs recorded $85 million in inflows this week, making it their biggest week since Aug. 5–9.


Since launching on July 23, the Ethereum products have seen inflows of a little more than $1.1 billion, factoring in the $2.9 billion in outflows from the Grayscale Ethereum Trust.US spot Ether ETF flows between Sept. 23-27. Source: Farside Investors


Magazine:Worldcoin fined again! Crypto store clerk runs off with $500K cash: Asia Express# Bitcoin# Federal Reserve# Business# Ethereum# Data# Ethereum ETF# Bitcoin ETFAdd reaction

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