Bitcoin ETFs Breathe Sigh of Relief with Modest Inflow on Final Trading Day
Bitcoin exchange-traded funds (ETFs) barely escaped a second consecutive week of outflows thanks to a large inflow on Friday. The $433 million influx pushed net inflows for the week ending September 18 to $6.2 million, according to data from SoSoValue analyzed by The Block.
This modest recovery was led by Fidelity's FBTC and BlackRock's IBIT funds, which drew in $310.7 million and $108.4 million respectively on Friday. However, the category as a whole is still down approximately $1.45 billion in net flows this year, with cumulative inflows totaling $55.16 billion since launch.
The resilience of bitcoin ETF investors has been noted by Bloomberg ETF analyst Eric Balchunas, who remarked that 'cumulative inflows remained around $55 billion after peaking near $63 billion.' He added that their staying power is 'incredible intestinal fortitude from the Boomers given they saw a 50% drawdown.'