Bitcoin ETFs Draw Record $770M as Price Struggles to Hold Above $80,000
Spot Bitcoin exchange-traded funds in the US saw $770 million in net inflows during the first four trading days of September, despite the underlying cryptocurrency struggling to hold above $80,000.
The buying accelerated sharply midweek, with Sept. 3 producing $730.8 million in net inflows, the largest single-day haul since January 14. BlackRock's iShares Bitcoin Trust (IBIT) dominated that session with approximately $454 million.
The month began on weaker footing, with about $236.5 million in net outflows on Sept. 1 before flows reversed to $101 million of inflows the following day. Total assets across spot Bitcoin ETFs now exceed $103 billion, equivalent to more than 6% of Bitcoin's market capitalization.
The sustained institutional appetite contrasts with Bitcoin's historical tendency to underperform in September.