Spot Bitcoin ETFs Surge to Largest Daily Inflow Since January
Bitcoin spot ETFs have seen their best day in months, with net inflows reaching $731 million on September 3. This is the largest daily haul since mid-January and marks a notable resurgence in the trend of buying Bitcoin through these exchange-traded funds.
The lion's share of the action came from BlackRock's iShares Bitcoin Trust, also known as IBIT, which pulled in approximately $454 million. Fidelity's FBTC and ARK 21Shares' ARKB also contributed meaningfully to the surge.
Weekly inflows for the period ending September 4 climbed to roughly $987 million, suggesting that the September 3 figure was the crescendo of a broader buying wave rather than an anomaly.
The timing of this surge is attributed to dovish comments from Federal Reserve Governor Christopher Waller, who signaled that monetary policy could loosen. This led to a decrease in opportunity costs for holding non-yielding assets like Bitcoin and weakened the dollar, making dollar-denominated assets appear cheaper to international buyers.