Friday was a standout day for U.S. Bitcoin ETFs, with a massive $252 million in inflows, a figure we haven’t seen in the last month. The surge in investment appetite undoubtedly highlights the continued interest in Bitcoin from institutional investors, even as the market navigates its ups and downs. it also resembles the good news that came out today, the Fed expressing interest rate cuts are on the table for September.
Out of the Bitcoin ETFs tracked, eight recorded positive inflows, while one saw outflows, according to SoSoValue. Leading the pack was BlackRock’s IBIT fund, which saw a significant $86.83 million in inflows. Fidelity’s FBTC followed closely, adding $64.00 million, while Bitwise brought in $42.26 million. Grayscale’s BTC fund wasn’t far behind, recording $50.83 million in new investments. ARK saw $23.81 million in inflows, and VanEck secured $14.38 million. WisdomTree added $4.80 million, and Invesco’s BTCO fund collected $3.18 million. Valkyrie’s BRRR fund rounded out the day with $2.25 million in inflows.
However, not all funds saw positive movement. Grayscale’s GBTC fund experienced an outflow of $35.55 million, the only fund to see money moving out on this otherwise strong day. Franklin Templeton’s EZBC did not record any activity for the day.
A Massive Week for ETFs
Looking at the week as a whole, Bitcoin ETFs saw good movement. Monday started with $61.98 million in inflows, followed by $88.06 million on Tuesday. Wednesday saw a dip with ‘just’ $39.42 million coming in, but Thursday picked back up with $64.91 million, leading to the massive $252 million on Friday. This brings the total inflows for the week to an impressive $506.37 million.
The biggest winner of the week was undoubtedly BlackRock, which added a total of $318.78 million in Bitcoin to its holdings, translating to nearly 5,000 Bitcoins at current prices!
These inflows are a strong indicator of the ongoing confidence in Bitcoin, especially from major institutional players like BlackRock. As we keep track of these numbers daily, it’s clear that the interest in Bitcoin ETFs is far from waning.
Keep following us at HowToBuyBitcoin.org for the latest counts on Bitcoin ETF inflows, as well as the latest news on Bitcoin.