Bitcoin ETFs Stage Dramatic Turnaround With $101M Inflows
Bitcoin ETFs bounced back from their losses on September 1st after attracting $101.1 million in net inflows on September 2nd.
This represents a sharp reversal of fortunes for these funds, which had suffered combined net outflows of $236.5 million just the day before.
The recovery comes as Bitcoin itself has regained ground, climbing back above $77,700 after a brief dip towards the mid-$76,000 range earlier in the session.
BlackRock's IBIT led the way with $115.4 million in net inflows, followed by Bitwise's BITB and MSBT with $4.2 million and $7.3 million respectively.
Grayscale's lower-fee BTC fund also saw $30.4 million flow in, although this was partially offset by $56.2 million leaving its flagship GBTC.
The latest flows suggest that institutional demand for Bitcoin has remained resilient despite the start-of-month selloff, with buyers willing to step back into the market after the decline.