The bitcoin (BTC) market has seen remarkable momentum over the past few days. There was an 8-day streak of positive net inflows into spot BTC exchange-traded funds (ETFs) that has directly influenced the buying pressure in the market. This phenomenon has been consolidated since September 19, 2024, with the bitcoin price holding firmly above $63,500.
On Monday, September 30, there was a net inflow of capital into bitcoin ETFs valued at $61.3 million, according to data provided by SosoValue. Although this figure is 87% lower than the $464 million recorded on Friday, September 26, it reflects a mostly bullish trend. SosoValue’s analysis indicates that since the beginning of this streak, ETFs have shown a history of mostly green inflows and outflows.
BlackRock led the inflows with $72.1 million, followed by Fidelity with $8.3 million. However, not all funds followed this pattern. 21Shares’ Ark and ARKB, which had seen significant inflows last Friday, saw net outflows of $9.5 million. Bitwise’s BITB and Grayscale’s GBTC also reported zero outflows or outflows on Monday, after significantly positive days.
Over the past eight days, more than $1.4 billion has been invested in Bitcoin ETFs, a figure that highlights the growing confidence in the digital asset. CriptoNoticias recently reported the highest inflow of money in two months, underlining the interest in investment products linked to Bitcoin.
This streak of net inflows into BTC ETFs not only supports the growing interest in the digital currency, but also reinforces the narrative that traditional financial products are increasingly integrating this asset into their offering, directly influencing its market value $BTC