ETFs Flooded with New Demand, but Profit-Taking Chokes Rally
Bitcoin exchange-traded funds (ETFs) have made significant gains in recent weeks, erasing their $5.7 billion year-to-date deficit after a sharp buying revival.
Data from SoSoValue shows that US-listed ETFs attracted more than $1.7 billion in fresh capital this week, with the products drawing $999 million on September 21 and $715 million on September 22.
BlackRock's iShares Bitcoin Trust (IBIT) captured a disproportionate share of the latest demand, attracting roughly $1.02 billion over four trading sessions.
The renewed demand began gathering pace in August after Treasury Secretary Scott Bessent signaled increased purchases of longer-dated government bonds, a development some market participants interpreted as evidence of mounting pressure in long-duration debt markets.