BlackRock, the world's largest asset manager, attracted $184.4 million into its Bitcoin exchange-traded fund (ETF) on September 25, the highest single-day inflow of any fund that month.
According to The Far Side, the Bitwise Bitcoin ETF (BITB) saw inflows on Sept. 25, bringing in $2.1 million, while the FidelityWise Bitcoin Origin Fund and Ark21Shares Bitcoin ETF (ARKB) saw outflows of $33.2 million and $47.4 million, respectively. data.
September is generally considered a bearish month for Bitcoin (BTC).
BlackRock sees biggest daily inflows ever in September
So far, BlackRock’s iShares Bitcoin Trust (IBIT) has led the way with the largest daily inflows in September at $184.4 million, followed by FBTC and ARKB with $102.1 million and $99.3 million, respectively, as of Sept. 13.
Total inflows into the Bitcoin ETF since its launch in January have been $17.94 billion. Source: Farside
Total inflows into the Spot Bitcoin ETF were positive for the fifth consecutive day, reaching $496.7 million during the period.
This streak of gains follows the Federal Reserve’s long-awaited decision to implement a 50 basis point interest rate cut, something the crypto industry has been keeping an eye on throughout 2024. Following the September 18th decision, Bitcoin reclaimed $60,000, a level not seen since August 30th.
Related: Bitcoin ETF trading volume tops $1 billion amid cryptocurrency crash — Galaxy
September 26 post Ki Young Ju, founder and CEO of CryptoQuant, said on X that the increased demand for spot Bitcoin ETFs is a key reason why the U.S. is “regaining an advantage in bitcoin holdings” compared to the rest of the world.
BlackRock amends rules with ETF custodian Coinbase
Cointelegraph reported on Sept. 23 that BlackRock has filed to amend its Bitcoin ETF following widespread investor concerns over the on-chain settlement practices of ETF manager Coinbase.
BlackRock's proposed amendment would require users to withdraw bitcoin from Coinbase within 12 hours.
Increasingly, investors are asking Coinbase to provide on-chain proof of Bitcoin purchased on behalf of spot ETFs.
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This article does not contain any investment advice or recommendations. Any investment or trading involves risks and readers should conduct their own research when making any decision.
