Bitcoin ETFs Surge by $1.71 Billion in Two Days

U.S. spot Bitcoin ETFs saw significant inflows over the past two days, totaling $1.71 billion as of September 22.

The funds attracted $998.95 million on Monday and $714.75 million on Tuesday according to SoSoValue data reported by multiple market sources.

This surge in demand came at a time when Bitcoin's price had climbed above the estimated average cost basis of ETF investors, estimated at around $81,722.

BlackRock's iShares Bitcoin Trust was the biggest receiver with $350.35 million in inflows on Tuesday, followed by the Wise Origin Bitcoin Fund by Fidelity with approximately $257.42 million in inflows.