- Spot Bitcoin ETFs have extended their inflow streak to a second day.
- The funds pulled hundreds of millions on Friday.
- The inflows coincided with Bitcoin’s price rally.
U.S.-listed spot Bitcoin exchange-traded funds (ETFs) attracted hundreds of millions from investors on Friday, extending their positive inflow streak to a second day.
The inflow resurgence came as the crypto market witnessed a notable uptrend in the past few days, buoyed by Fed rate cut expectations and strong gains across traditional assets. Bitcoin’s price rose nearly 3% on Friday, while Ether surged 2.7% to reclaim the $2,400 level.
Bitcoin ETF Flow on September 13
According to SoSoValue data, the 12 U.S.-based spot Bitcoin ETFs recorded a daily net inflow of $263.07 million on September 13, their highest in over a month. The funds also saw a daily trading volume of $1.82 billion, significantly higher than the previous day’s $896.95 million.
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Fidelity’s FBTC led the day’s inflows with $102.09 million, followed by Ark Invest’s ARKB and Bitwise’s BITB at $99.27 million and $43.06 million. Grayscale’s GBTC, which has hemorrhaged over $20 billion since its launch, saw its first inflow in a long time, pulling $6.66 million.
Other notable inflows came from VanEck’s HODL, Franklin Templeton’s EZBC, and Valkyrie’s BRRR, which attracted a combined $11.99 million. The remaining funds posted zero inflows, including the largest Bitcoin ETF by net assets, BlackRock’s IBIT.
With the massive inflows signaling renewed investor confidence, Bitcoin’s price rose 4% in the last 24 hours to cross the psychologically significant $60,000 level on September 14 at about 1:20 AM (GMT +3). The crypto asset surged to $60,619 before paring some of the gains to trade at $59,703 at the time of writing, CoinMarketCap data shows.
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