Bitcoin ETFs Draw Record Inflows Amid Price Surge
Bitcoin-based exchange-traded funds (ETFs) have seen significant inflows in recent days, with $730.9 million pouring into them on Thursday, September 3. This marks the largest single-day net inflows since January and reflects a growing interest from institutional investors.
The influx of money was led by BlackRock's iShares Bitcoin Trust (IBIT), which attracted $454 million in flows, accounting for more than 60% of the total inflows. Other notable contributors included ARK Invest and 21Shares' ARKB, Fidelity's Wise Origin Bitcoin Fund (FBTC), Morgan Stanley's MSBT, and Bitwise's BITB.
However, not all funds experienced positive flows, with VanEck's Bitcoin ETF (HODL) seeing $19.6 million in outflows and WisdomTree's Bitcoin Fund (BTCW) reporting negative sentiment with $5.2 million in outflows.
The influx of money into Bitcoin ETFs comes as the price of BTC surges past $80,000, with a 5% daily gain and a monthly rise of over 26%. The 24-hour trading volume has also hit a high of $43.5 billion, increasing by about 70%.