Spot Bitcoin ETFs reached a new high of $17.7 billion in net inflows last week, signaling renewed investor confidence in both Bitcoin and the broader economy. Since September 9, the 11 funds have accumulated $801.1 million in net inflows, bouncing back from a slump that lasted from late August through early September.
Eric Balchunas, Senior ETF Analyst at Bloomberg, noted on X that the significant inflows reflect a “big day for Bitcoin ETFs,” with flows turning positive after crossing the $1 million mark.
This surge coincides with indications that inflation is stabilizing and the U.S. economy is slowing. Following the Federal Reserve’s decision to cut interest rates by 50 basis points—more than the previously considered 25 basis points—risk assets rallied, contributing to a record high for the S&P 500.
Bitcoin recently traded around $63,400, having risen above $64,000 earlier in the week, marking a nearly 10% increase over the past ten days since the Fed’s announcement on September 18.
The Fidelity Wise Origin Bitcoin Trust (FBTC) led the latest inflow surge with $355.7 million, followed by the ARK 21Shares Bitcoin ETF (ARKB) with $185 million and the Bitwise Bitcoin ETF (BITB) at $134.3 million. All three funds experienced slight gains, up about 0.5% on Monday. Meanwhile, BlackRock’s iShares Bitcoin Trust (IBIT), which has the highest total assets under management, garnered only $15.8 million in inflows since September 9.
In contrast, Grayscale’s Bitcoin Trust ETF (GBTC) saw net outflows of $56.1 million during the same period, having lost over $20 billion in assets. Its higher expense ratio of 1.5% contributes to its unique position among Bitcoin funds.
With the recent price rallies, the total assets managed by spot Bitcoin ETFs now exceed $50 billion.
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