Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin ETFs see $28.6M inflows after 8-day outflow streak

Bitcoin ETFs see $28.6M inflows after 8-day outflow streak

CointelegraphCointelegraph2024/09/10 09:20
By:Brayden Lindrea

Three spot Bitcoin ETF issuers saw an inflow on Sept. 9 — but it didn’t include BlackRock, which recorded a rare outflow on the day.

United States-based spot Bitcoin exchange-traded funds (ETFs) saw a net inflow of $28.6 million on Sept. 9 — breaking eight consecutive trading days of outflows.

BlackRock’s iShares Bitcoin Trust (IBIT) also saw its third-ever day of net outflows at $9.1 million, its smallest on record next to its biggest $36.9 million outflow on May. 1 and $13.5 million on Aug. 29 , Farside Investors data shows.

The Fidelity Wise Origin Bitcoin Fund (FBTC) saw the largest inflow on the day at $28.6 million, while the Bitwise Bitcoin ETF (BITB) and ARK 21Shares Bitcoin ETF (ARKB) tallied respective inflows of $22 million and $6.8 million, 

The Invesco Galaxy Bitcoin ETF (BTCO) also recorded an inflow of $3.1 million.

Bitcoin ETFs see $28.6M inflows after 8-day outflow streak image 0
Flows for the US spot Bitcoin ETFs on Sept. 9 (Green). Source: Farside Investors

Roughly $1.2 billion left the spot Bitcoin ( BTC ) ETFs in the trading days between Aug. 27 and Sept. 6 before the eight-day outflow streak broke on Sept. 9.

It followed a 5.35% Bitcoin rally to a high of $57,635 on Sept. 9 before cooling off to $56,682 at current prices, CoinGecko data shows.

Bitcoin ETFs see $28.6M inflows after 8-day outflow streak image 1
Bitcoin’s change in price since Sept. 8. Source: CoinGecko

BlackRock continues to lead all spot Bitcoin ETF issuers with $20.9 billion in total net inflows, while Fidelity and ARK 21Shares round out the top three at $9.45 billion and $2.28 billion, respectively.

Total net inflows across all currently amount to $16.93 billion, which includes over $20 billion in outflows from the Grayscale Bitcoin Trust (GBTC).

Ethereum ETFs still in the red

The US-issued spot Ether ( ETH ) ETFs saw $5.2 million in outflows on Sept. 9 — marking their seventh trading day without an inflow.

Similar to the spot Bitcoin ETFs, BlackRock and Fidelity’s Ether products led the pack with respective inflows of $1 billion and $405.4 million.

Bitwise’s fund came in third at $315.9 million, while the Grayscale Ethereum Trust (ETHE) has seen $2.69 billion in outflows.

16

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!