US Spot Bitcoin ETFs See Record Inflows as Circle Launches Bitcoin-Backed Loans

US spot Bitcoin ETFs saw a significant influx of funds last week, attracting $998.95 million in daily net inflows. The total combined net asset value of these ETFs now stands at approximately $110.14 billion.

The BlackRock ETF IBIT recorded the highest net inflow with $381.37 million, followed closely by Ark Invest and 21Shares' ARKB ETF with $289.12 million. These two ETFs have already seen substantial historical net inflows of $64.51 billion and $1.37 billion, respectively.

Meanwhile, Bitmine Immersion Technologies added a significant amount to its Ethereum holdings, purchasing 27,562 ETH in the week ending September 20. The total value of this acquisition is estimated to be around $74 million to $75 million at current market prices.

Circle has also launched an institutional Bitcoin-backed USDC loan service through its Circle Mint platform. This allows clients to access immediate liquidity in digital dollars without selling their BTC reserves on the spot market, providing a more stable solution for institutional entities.