CandleFocus US Bitcoin ETFs see largest single-day inflow since late July, Bitcoin climbs past $60,000
2024-09-14
Author: Content Editor
Inflows into US spot Bitcoin exchange-traded funds (ETFs) surged on Friday, with net buying reaching $263 million, the highest single-day inflow since July. This came as Bitcoin jumped above $60,000, recording a 12% increase in one week. Fidelity's Bitcoin ETF, FBTC, saw around $102 million in investor inflows, while ARK Invest/21Shares' Bitcoin Fund (ARKB) received $99 million. Other competing Bitcoin ETFs also experienced positive inflows. However, BlackRock's iShares Bitcoin Trust (IBIT), WisdomTree's Bitcoin Fund (BTCW), and Grayscale's Bitcoin Mini Trust (BTC) saw no flows. The positive sentiment extended to the broader crypto market, with Ethereum and several other cryptocurrencies posting gains. The recent surge in Bitcoin and ETF inflows may be driven by anticipation of a potential Federal Reserve interest rate cut and positive sentiment towards Bitcoin.
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