The best-performing day since June 4 was on September 27th, when $494.4M was added.
The iShares Bitcoin Trust, which is owned by BlackRock, received $499M in weekly flows.
With inflows of almost $1.1 billion, the United States spot Bitcoin exchange-traded funds had their best week since July 15-19. According to Farside Investors, the best-performing day since June 4 was on September 27th, when $494.4 million was added. The spot Bitcoin ETFs raised $366 million on September 26th, the day before the outstanding performance.
The iShares Bitcoin Trust, which is owned by BlackRock, received $499 million in weekly flows. The ARK 21Shares Bitcoin ETF followed with $289.5 million, while the Fidelity Wise Origin Bitcoin Fund received $206.1 million.
While the WisdomTree Bitcoin Fund did not report an inflow throughout the week, the Invesco & Galaxy, Franklin Templeton, Valkyrie, and VanEck Bitcoin products received inflows ranging from $5.7 million to $33.3 million.
Optimistic Investor Sentiment
With these most recent inflows, the total inflow for all eleven spot ETFs since launch has reached $18.8 billion. After the Federal Reserve reduced interest rates on September 18, spot Bitcoin ETF flows increased.
Just two more days till October and the fourth quarter of 2024 rolls around. CoinGlass data reveals that in five of the previous nine years, Bitcoin has posted a gain of 50% or more during this quarter. At the time of writing, Bitcoin is trading at $65,622 as per data from CMC.
This week saw the largest influx of $85 million into US spot Ether ETFs since the week of August 5–9. After deducting the $2.9 billion in funds removed from the Grayscale Ethereum Trust, the total amount of money invested in Ethereum products since their introduction on July 23 is little over $1.1 billion.
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