Bitcoin ETFs Attract Record $987M as Institutional Demand Recovers

US spot Bitcoin exchange-traded funds (ETFs) saw a surge in demand last week, pulling in almost $1 billion as institutional investors flocked to the market. The influx of capital extended their positive streak to three consecutive weeks, with BlackRock's IBIT dominating the latest flows after attracting $691.5 million.

The total net inflows for spot Bitcoin ETFs reached $986.9 million during the week ended Sept. 4, outpacing the previous week's $924.5 million. Ethereum funds also remained firmly in positive territory, bringing in $218.4 million and marking their third straight week of inflows.

The combined total for both categories exceeded $1.2 billion during the week. Prices have shown a more restrained response to the institutional buying, with Bitcoin trading at approximately $79,530 on Monday, up 1.73% over the past seven days.