Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
U.S. spot Bitcoin(BTC) ETFs drew $337.6 million on Aug. 24, extending a six-session $2.26 billion inflow streak as BlackRock and Fidelity captured nearly 93% of the day’s total.
Key Points:
- U.S. spot Bitcoin ETFs posted $337.6 million in net inflows on Aug. 24, the sixth straight positive session.
- IBIT and FBTC supplied $313.5 million, or about 92.9% of the day’s total.
- CryptoQuant data put weekly ETF demand at 26,762 BTC, about 8.5 times estimated new miner issuance.
BlackRock ETF Flows
Farside Investors data showed BlackRock’s IBIT received $208.9 million on Aug. 24, while Fidelity’s FBTC added $104.6 million, leaving the two funds with $313.5 million of the session’s inflows. Other products contributed much smaller amounts.
The result marked the sixth consecutive U.S. spot Bitcoin ETF session with net inflows, not a six-week streak. From Aug. 17 through Aug. 24, the products attracted about $2.26 billion combined, including $606.3 million on Aug. 20 and $517.2 million on Aug. 19.
The concentration remains significant because IBIT and FBTC accounted for about 92.9% of Aug. 24 net inflows. Broader participation across issuers would provide stronger evidence that regulated demand is expanding beyond the two largest contributors.
Bitcoin Supply Gap
CryptoQuant data cited by AMBCrypto put weekly ETF demand at 26,762 BTC, or roughly 3,800 BTC per day, compared with new miner issuance of about 450 BTC daily. That places ETF absorption near 8.5 times new supply, an imbalance that could tighten available Bitcoin if the pace continues.
Demand is also extending beyond U.S. products. AMBCrypto cited Bitwise data showing its European BTC1 ETP at $155.5 million in assets and roughly 1,961 BTC. Bitwise’s public product page, however, listed $141.9 million in assets as of Aug. 23, so the newer figure could not be independently confirmed there.
Bitwise’s product page confirms that BTC1 is fully backed by Bitcoin held in cold storage and carries a 0.05% annual fee through Dec. 31, 2026. That structure gives European investors regulated exposure without holding the cryptocurrency directly.
The current inflow run followed a sharp reversal in mid-August. Farside reported net outflows of $61.1 million on Aug. 12, $131.1 million on Aug. 13 and $56.2 million on Aug. 14 before the six-session buying streak began on Aug. 17.
Read Next:Bitcoin Nears $80K But Bears Still See A $40K Crash
Source: yellow.com