BlackRock’s iShares Bitcoin Trust Leads Record-Breaking Inflows of $499M in U.S. Spot Bitcoin ETFs

This week marked the highest inflows into U.S. spot Bitcoin ETFs since mid-July, with totals exceeding $1.1 billion. September 27 was the standout day, with inflows reaching an impressive $494.4 million, signaling strong investor interest in Bitcoin ETFs.

Record Inflows for Bitcoin ETFs

U.S. spot Bitcoin ETFs experienced unprecedented inflows this week, totaling over $1.1 billion. Leading the charge was BlackRock’s iShares Bitcoin Trust, followed by ARK 21Shares Bitcoin ETF and Fidelity® Wise Origin® Bitcoin Fund, with inflows of $499 million, $289.5 million, and $206.1 million, respectively. September 27 was a particularly successful day, recording $494.4 million, the best daily performance since June.

Impact of the Federal Reserve’s Rate Cuts

This significant surge in Bitcoin ETF inflows came after the Federal Reserve’s interest rate cuts on September 18, which triggered market movements. Following the rate cuts, Bitcoin’s price rose 13.8%, reaching $65,800, according to CoinGecko data. The bullish trend brought Bitcoin within just 10.8% of its all-time high of $73,738, recorded on March 14.

Broader Market Trends and Their Effects

In addition to the top performers, other Bitcoin products, including those from Invesco & Galaxy, Franklin Templeton, Valkyrie, and VanEck, also saw positive inflows ranging from $5.7 million to $33.3 million. Interestingly, WisdomTree’s Bitcoin Fund did not record any inflows during this period. Since their inception, total inflows into these ETFs have now reached an astounding $18.8 billion.

Ethereum ETFs Also on the Rise

This trend is not limited to Bitcoin. U.S. spot Ethereum (ETH) ETFs also saw a strong week, with inflows totaling $85 million, the highest since early August. Despite notable outflows from Grayscale Ethereum Trust, these Ethereum products have accumulated over $1.1 billion in inflows since their launch.

The developments this week highlight the continued investor interest in crypto ETFs, supported by broader economic moves like the Federal Reserve’s rate cuts. As we approach the final quarter of the year—a historically strong period for Bitcoin—market sentiment remains optimistic. Investors are advised to keep an eye on market changes and regulatory updates that could further influence the valuations of cryptocurrencies.