$433M Weekend Surge Helps US Spot Bitcoin ETFs End Week Slightly Positive
US spot bitcoin exchange-traded products (ETPs) closed last week slightly in positive territory after a strong surge in demand on Friday, September 18. The week's total flows showed that investors allocated $433 million to listed bitcoin funds on the final day, more than enough to offset earlier withdrawals and leave the group with a net weekly inflow of about $6.2 million.
The week was marked by significant fluctuations in investor sentiment. Monday started with around $160 million in creations, but Tuesday and Wednesday saw combined redemptions near $746 million, leaving products deeply negative heading into Thursday's partial recovery of about $159.5 million.
Friday's late surge of $433 million intake, led by Fidelity's Wise Origin Bitcoin Fund (FBTC) with approximately $310.7 million, or over 70 percent of the day's net creations, and BlackRock's iShares Bitcoin Trust (IBIT) with about $108.4 million, supplied nearly 97 percent of Friday's inflow.
Assets under management across US spot bitcoin ETFs stood near $102.5 billion after Friday's activity, equal to around 6.29 percent of bitcoin's market capitalization. The modest net result is compared with the $463 million that left the same products the prior week.