Spot Bitcoin ETFs Raise Over $1 Billion in a Week
Over the past trading week, 12 spot Bitcoin ETFs saw $1.1 billion in capital inflows. This brings the cryptocurrency funds' capitalization by $18.8 billion since their launch in January 2024.
The spot ETFs received the bulk of their capital on Friday, September 27. On the last trading day of the week, investors poured more than $494.27 million into the BTC ETF. The leader in terms of funds raised was the ARK 21Shares Bitcoin ETF (ARKB), which received $203 million. The issuer Fidelity Wise Origin Bitcoin Fund (FBTC) reported an inflow of capital in the amount of $123.6 million.
The market cap of the iShares Bitcoin Trust (IBIT) fund has grown for five days in a row and increased by about $110.8 million. Investors poured $26.2 million into the Grayscale Bitcoin Trust (GBTC), which was the first positive result since September 16.
The increase in capital inflows into Bitcoin spot funds coincided with the BTC price breaking through a key resistance level at $65,000, which analysts believe could trigger a wave of FOMO-driven buying and set the stage for a further bullish rally in the market.
