Crypto ETFs Flooded with Record $1.2 Billion as Bitcoin Prices Retreat

The US crypto exchange-traded funds (ETFs) saw a significant influx of capital in the trading week ending September 4, with $1.2 billion pouring in. Bitcoin products dominated this total, capturing more than 80% or $986.7 million.

BlackRock's Bitcoin products led the way, netting $691.5 million, while Bitwise's BITB secured $41.7 million. In contrast, VanEck's HODL experienced a net outflow of $33 million during this period.

The numbers highlight a divergence in preference between these two providers. Despite Bitcoin prices retreating from above $81,000 to approximately $79,664, the influx of capital into crypto ETFs was substantial.