Crypto
Bitcoin ETF Inflows Slow Down as Price Drops Below $84,000
Bitcoin spot exchange-traded funds (ETFs) continued their streak of attracting capital, despite Bitcoin's recent price drop. On September 23, US spot Bitcoin ETFs recorded $32.4 million in net inflows, extending the positive trend to five sessions.
The five-day run brought total Bitcoin ETF inflows to about $2.34 billion. Morgan Stanley's MSBT accounted for the entire September 23 inflow, while IBIT and FBTC recorded no flows.
Bitcoin fell below $84,000 on Wednesday despite continued ETF demand, after trading above $87,000 earlier. The price drop came as higher US Treasury yields added pressure, with the 10-year yield moving above 5%.