Bitcoin ETFs Absorb Record $999M as Retail Investors Break Even
Bitcoin ETFs saw a significant influx of $999 million on September 21, their largest single-day intake since November 11, 2024. This surge in investments was largely driven by BlackRock's iShares Bitcoin Trust (IBIT), ARK 21Shares Bitcoin ETF (ARKB), and Fidelity Wise Origin Bitcoin Fund (FBTC), which accounted for 91% of total inflows.
The majority of the $999 million likely came from purchases made on September 18, when Bitcoin's price climbed from $76,400 to $80,900. This indicates that patient retail investors were behind the buying spree, rather than momentum chasers.
With this influx of new money, the average ETF investor has finally broken even at a cost basis of around $86,000 per Bitcoin. However, reaching breakeven took time, and investors who bought at the peak are still underwater.