BlackRock Bitcoin ETF posts September's biggest daily inflow of over $180M

Ciaran Lyons12 hours agoBlackRock Bitcoin ETF posts September"s biggest daily inflow of over $180MBlackRock"s Bitcoin ETF saw the highest daily inflow of any fund this month on Sept. 25, amid a wider five-day inflow streak across all spot Bitcoin ETFs in the United States.2430 Total views4 Total sharesListen to article 0:00Markets NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onThe world’s biggest asset manager, BlackRock, attracted $184.4 million in inflows on Sept. 25 for its spot Bitcoin exchange-traded fund (ETF), marking the month’s highest daily inflow of any fund.

The Bitwise Bitcoin ETF (BITB) was the only other fund to see inflows on Sept. 25, pulling in $2.1 million, while Fidelity Wise Bitcoin Origin Fund and Ark 21Shares Bitcoin ETF (ARKB) had outflows of $33.2 million and $47.4 million, respectively, according to Farside data.

September is typically considered bearish for Bitcoin (BTC).BlackRock posts largest daily inflow in September

So far, BlackRock’s iShares Bitcoin Trust (IBIT) has led September with the largest daily inflow at $184.4 million, while FBTC and ARKB trail behind with $102.1 million and $99.3 million on Sept. 13, respectively.The total cumulative spot Bitcoin ETF inflow since launching in January is $17.94 billion. Source: Farside

For a fifth consecutive day, total cumulative flows into spot Bitcoin ETFs were positive, amounting to $496.7 million over the period.

The streak follows the Federal Reserve’s much-anticipated decision to implement a 50 basis point rate cut, a move the crypto industry had been eyeing throughout 2024. Following the Sept. 18 decision, Bitcoin reclaimed $60,000, a level it hadn’t seen since Aug. 30.

Related:Bitcoin ETF trading volume tops $1B amid crypto crash — Galaxy

In a Sept. 26 post on X, CryptoQuant founder and CEO Ki Young Ju opined that the increasing demand for spot Bitcoin ETFs is a crucial reason why the US is “regaining dominance in Bitcoin holdings,” compared with the rest of the world.BlackRock amends rule with ETF custodian Coinbase

On Sept. 23, Cointelegraph reported that BlackRock filed for an amendment for its Bitcoin ETF following widespread investor concerns over ETF custodian Coinbase’s onchain settlement practices.

BlackRock’s amendment requires Bitcoin withdrawals within 12 hours from Coinbase. 

Increasingly, investors have been asking Coinbase to provide onchain proof of the Bitcoin bought on behalf of the spot ETFs.

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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.# Bitcoin# Markets# Bitcoin ETF# BlackRock# ETFAdd reaction