Bitcoin ETFs Flooded with $999 Million as BTC Price Explodes Higher
Bitcoin ETFs experienced their strongest session in recent months on September 21, attracting a combined $999 million in net inflows. This influx of funds coincided with a sharp rally in Bitcoin's price over the past 24 hours.
The largest contributor to this surge was BlackRock's IBIT, which drew in $381.4 million in inflows, followed closely by ARK 21Shares' ARKB, which attracted $289.1 million. Fidelity's FBTC added another $238.8 million.
Bitcoin's price action over the past day has been significant, with BTC initially jumping above $83,000 before continuing toward $85,000 and eventually reaching a session high close to $87,000. However, it later gave back some of those gains and was trading around $85,200 by press time.
The combination of rising Bitcoin prices and impressive ETF inflows suggests institutional demand has returned strongly after last week's selling pressure. IBIT, FBTC, and ARKB alone accounted for more than $909 million, or roughly 91% of the day's total ETF inflows.