US spot bitcoin ETFs log highest daily inflows in nearly two months as BTC challenges $60,000

Spot bitcoin exchange-traded funds in the United States had their best day for inflows in nearly two months on Friday—despite the fact that the largest ETF on the market logged no inflows of its own. 

On Friday, US-based spot bitcoin ETFs logged a daily total net inflow of $263.1 million, the most for a single day since July 22's massive $485.9 million 55 days ago. The total inflow for last week was $403.8 million, rebounding from two weeks of net negative inflows. 

BlackRock's IBIT, currently the largest such fund by assets under management (AUM), has logged merely $9.1 million worth of outflows over the past two weeks, with most days seeing no net trading activity. Instead, Friday's inflows were led by Fidelity's FBTC with $102.1 million worth of inflows and Ark 21Shares' ARKB with $99.3 million worth of inflows. 

Bitwise's BITB logged the third-biggest inflow with $43.1 million. "Never been more optimistic about the road ahead for Bitcoin BTC +2.47% crypto. Glad to be part of this community," said Bitwise CEO Hunter Horsley in a post on X referencing the inflows. 

Four other funds posted modest gains—Grayscale's GBTC with $6.7 million, Franklin's EZBC with $5.2 million, VanEck's HODL with $5.1 million, and Valkyrie's BRRR with $1.7 million—with the rest reporting no significant inflows or outflows. 

The price of bitcoin is currently hovering around $60,000 as traders anticipate an interest rate cut from the Federal Reserve next Wednesday, September 18. CME FedWatch currently predicts an equal likelihood of the Fed cutting rates by either 25 or 50 basis points. The rate has remained unchanged for over a year after being increased to its current 525-550 basis point target on July 26, 2023. 

Following two days of net negative outflows, US-based spot ether ETFs logged a modest gain of $1.52 million in inflows on Friday. 

An outflow of $7.4 million from Grayscale's ETHE fund was offset by $5.21 million worth of inflows into Bitwise's ETHW and a $3.7 million inflow to BlackRock's ETHA. The rest of the US-based funds saw no significant inflows or outflows. 

The price of Ethereum ETH +2.13% is currently up 2.3% over the past 24 hours, according to The Block's Ethereum Price Page.  

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures .

© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到[email protected]，本平台相关工作人员将会进行核查。