Crypto
Bitcoin ETFs Attract Record Institutional Demand
U.S. spot bitcoin (BTC) exchange-traded funds reported $986.9 million in net inflows last week, extending their positive flows to three straight weeks amid renewed institutional demand.
The funds led by BlackRock's IBIT drew in $691.5 million in net inflows for the week ended Sept. 4, according to SoSoValue data.
Sustained ETF inflows suggest that institutional capital is rebuilding exposure to bitcoin, creating genuine spot demand rather than relying on leverage-driven speculation, said Dominick John of Zeus Research.
Bitcoin continues to hover around $80,000 after reaching a high of around $81,700 last Thursday. The world's largest cryptocurrency showed little change over the past 24 hours, trading at $79,951 as of 9:35 p.m. ET Sunday.