BlackRock Bitcoin ETF sees first inflows in weeks

Bitcoin ETFs have seen inflows recently, with BlackRock’s iShares Bitcoin Trust (IBIT) recording a $15.8 million inflow on September 16, its first single-day net inflow in weeks. The change reflects a resurgence in investor interest in Bitcoin (BTC), which has helped push the price past the $60,000 mark.

Since September 12, the Bitcoin ETF market has shifted from outflows to inflows, increasing market confidence. BlackRock’s inflow brought total net inflows into U.S. spot BTC ETFs to $12.8 million, according to Farside Investors, although inflows have since returned to zero.

Several major Bitcoin ETFs also saw significant inflows on September 17, with Fidelity’s FBTC seeing inflows as high as $56.6 million, Bitwise’s BITB and Ark’s ARKB seeing inflows of $45.4 million and $42.2 million respectively. Grayscale’s GBTC has still not seen inflows.

The community is optimistic that the trend is indicative of growing institutional confidence. The entry of BlackRock, an asset management giant, into the market has increased overall institutional trust in cryptocurrency ETFs.

Despite significant inflows into the Bitcoin ETF, BTC continued to face challenges in trading on September 17, trading at $60,432, up 2.96%. This move shows the positive impact of ETF inflows on Bitcoin price and reflects an underlying bullish trend.

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