Bitcoin ETFs Flooded with $2.98 Billion in Inflows Over Seven Sessions
The US spot Bitcoin Exchange-Traded Funds (ETFs) have seen significant inflows since the US Treasury Department announced plans to increase buybacks of long-term government bonds. According to Crypto.news, these flows include around $2.4 billion in inflows in the week ending Friday (25/9). The series of inflows has lasted for seven consecutive trading sessions.
The accumulated inflow over seven sessions reached approximately $2.98 billion. On Friday, spot bitcoin ETFs received $134.5 million. These flows extended the inflow streak that began on September 17.
BlackRock's iShares Bitcoin Trust (IBIT) led weekly inflows with approximately $1.2 billion, followed by Fidelity Wise Origin Bitcoin Fund (FBTC) with $701.7 million. ARK 21Shares Bitcoin ETF (ARKB) received $294.7 million, while Morgan Stanley Bitcoin Trust (MSBT) recorded $203.3 million.
Bloomberg Intelligence ETF analyst Eric Balchunas attributed this change in flows to the US Treasury Department's plan to increase buybacks of long-term government bonds. He called it a 'US$4.6 billion fund tsunami.'