Bitcoin Price Reclaims $80K as US Spot ETFs See Record Inflows

The Bitcoin price has reclaimed the $80K mark after experiencing a sharp decline in August. This surge comes on the back of significant inflows into U.S. spot Bitcoin ETFs, which recorded $101.15 million in net inflows on September 2.

BlackRock's IBIT was the largest contributor to this growth, bringing in $115.45 million alone. Grayscale's Bitcoin Mini Trust added $30.42 million, while Morgan Stanley's MSBT received $7.3 million. Bitwise's BITB also recorded $4.19 million in net inflows.

However, not all funds saw money coming in. Grayscale's GBTC recorded $56.21 million in outflows, reducing the total amount of money flowing into the wider Bitcoin ETF market. Several major funds, including Fidelity's FBTC, recorded zero net flows.