Bitcoin ETF Inflows Hit $987M as BTC Holds Near $80K
Spot Bitcoin exchange-traded funds (ETFs) in the US pulled in nearly $1 billion last week, as institutional demand recovered. This was the third consecutive week of positive inflows for these funds.
The total net inflows were $986.9 million during the week ended Sept. 4, up from $924.5 million the previous week, according to SoSoValue data. BlackRock's IBIT dominated the latest flows after attracting $691.5 million, roughly 70% of the weekly total.
Ethereum funds also remained in positive territory, with US spot Ether ETFs bringing in $218.4 million for their third straight week of inflows. Trading volume dropped to $4.1 billion from $6.3 billion.
Despite the influx of capital, Bitcoin's price action was relatively subdued, trading at approximately $79,530 on Monday, up 1.73% over the past seven days. Ethereum also posted a stronger 2.26% seven-day gain.
The next major test for crypto trading could come from US inflation data, with markets pricing roughly a 57%-58% probability of an increase at September's Federal Reserve meeting.