Spot Bitcoin Exchange Trade Funds (ETFs) traded in the US saw a net inflow of a total of $552.78 million on Thursday.
$553 million inflow into spot Bitcoin ETFs in one day
According to Sosovalue data, the biggest inflows came into BlackRock’s IBIT fund, at $366.2 million. Fidelity’s FBTC fund reported $134.7 million, while Bitwise’s BITB fund reported $40 million. Funds owned by Vaneck, Invesco and Franklin Templeton also saw a positive trend.
This data has led to Bitcoin ETF having net inflows for the fourth consecutive day. The total inflow over the past four days reached $1.7 billion. “The fund flow within the facility shows the position that it will be adopted prior to the Fed’s interest rate decisions, as well as the Fed’s position,” said Vincent Liu, CIO of Kronos Research.
Bitcoin ETF saw a $751 million spill in August. Meanwhile, the Spot Ethereum ETF has one of the strongest months, with an influx of $3.87 billion during the same period. The ETH fund experienced a leak on the first day of September, but saw an inflow of $113.12 million on Thursday.
According to the latest data, Bitcoin is trading at $115,455, while Ethereum is trading at $4,553. Analysts warn that if ETF inflows continue, Bitcoin can test its highest ever high.
*This is not investment advice.