This week has been a wild ride for spot Bitcoin exchange-traded funds (ETFs), bringing in a hefty $1.1 billion, setting a record not seen since mid-July. What really shook the markets was the whopping $494.4 million that flowed in on September 27. This wasn’t just any random day — it became the most lucrative inflow since early June, according to some spicy details from Farside Investors. The previous day, another $366 million surged in, pushing the weekly total into uncharted territory.
Big Players: BlackRock and ARK Cash in Heavy
The front-runners in this massive influx were no surprises: BlackRock’s iShares Bitcoin Trust grabbed $499 million, and the ARK 21Shares Bitcoin ETF wasn’t too far behind with $289.5 million. Fidelity’s Wise Origin® Bitcoin Fund also claimed its spot in the limelight, locking in $206.1 million. These heavyweights took center stage, leaving the competition trailing in their wake.
Others like Invesco & Galaxy, Franklin Templeton, Valkyrie, and VanEck made modest moves with inflows ranging from $5.7 million to $33.3 million. Surprisingly, WisdomTree’s Bitcoin Fund saw no inflow action at all, missing out on this epic run.
Bitcoin Nears All-Time High, Thanks to Fed and Bulls
The massive wave of capital comes right after the Federal Reserve decided to cut interest rates on September 18. Ever since then, Bitcoin’s been flexing hard, soaring up 13.8% to hit $65,800. The crypto king is now just 10.8% shy of its March 14 all-time high of $73,738, according to CoinGecko data.
And here’s what’s cooking: Quarter 4 is about to hit, and historically, Bitcoin’s fourth quarters have been nothing short of legendary. Over five of the last nine years, Bitcoin’s gains in Q4 have surpassed 50%, according to CoinGlass. Could we see another explosive run?
Ethereum’s Not Sleeping, Either
Meanwhile, the US spot Ether ETFs didn’t just sit quietly on the sidelines. They raked in $85 million this week, marking their most substantial inflows since early August. Since their launch in late July, the Ethereum products have now gathered more than $1.1 billion. However, with $2.9 billion in outflows from the Grayscale Ethereum Trust, the numbers show an ongoing tug-of-war.
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