Bitcoin spot ETF net inflows hit a two-month high, with the price approaching $66,000

In recent days, the inflow of funds into Bitcoin (BTC) spot ETFs has reached a two-month high, pushing the price of Bitcoin close to $66,000. In contrast, the Ethereum (ETH) ETF has suffered a slight loss during the same period.

ETF fund inflows boost BTC gains

The flow of funds into spot Bitcoin ETFs is closely related to the price of BTC. Yesterday, the net inflow of US Bitcoin ETFs exceeded $360 million, setting a record since July 22. Investors have continued to buy in the past few weeks, with only two of the 14 trading days since September 6 experiencing net outflows.

Among the major ETFs, Ark Invest's ARKB led the way, attracting $113.8 million in inflows, followed by BlackRock's IBIT ($93.4 million), Fidelity's FBTC ($74 million) and Bitwise's BITB ($50.4 million). The world's largest Bitcoin ETF IBIT has an asset management scale of more than $21.3 billion.

Bitcoin price rises

With the inflow of funds, the price of Bitcoin rose from $59,300 to nearly $66,000, an increase of 11% in just one week. This wave of gains is closely related to the increase in capital inflows after the US Federal Reserve announced a 0.5% interest rate cut.

Ethereum ETF performance

In contrast, the Ethereum spot ETF did not perform as well as Bitcoin. On September 23, the Ethereum ETF withdrew a large amount of $80 million, and then recovered net inflows of $62.5 million and $43.2 million in the following two days. However, there was a small net outflow of $100,000 on September 26. Despite this, the price of Ethereum has risen by more than 14% in the past week and is currently over $2,660.

Summary

The strong inflow of funds into the Bitcoin spot ETF has driven the rise of BTC, and the price has approached $66,000. The performance of Ethereum's ETF is slightly worse, but the price is still on an upward trend.