Bitcoin Price Surge Boosts Institutional Demand for ETFs
Bitcoin's price surge in Q3 saw it gain 42.71% since the end of June, its best quarterly performance since 2017.
The strong price recovery also boosted institutional demand for Bitcoin ETFs, with U.S. spot funds attracting $6.34 billion in net inflows during the quarter.
According to SoSoValue data, this represents the strongest inflow period for these funds so far this year.
BlackRock's iShares Bitcoin Trust remained the largest U.S. spot Bitcoin product by assets, with around $67.07 billion in net assets on September 25th.