Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
U.S. exchange-traded funds (ETFs) that track the spot price of Bitcoin (CRYPTO: $BTC) have recorded their biggest daily inflow of investor capital since January of this year.
About a dozen spot Bitcoin ETFs saw $730.9 million U.S. of net inflows on Sept. 3.
It was the largest daily inflow to the Bitcoin ETFs since Jan. 14 of this year, when the funds attracted $843.6 million U.S. of investors’ money.
-
MEXC Launches Earn Plus With Limited-Time Event Offering Up to 800% APR Booster
-
Kalshi Expands Internationally With Alpaca Brokerage Partnership
-
MEXC Data: BTC Breaks $80,000, Major-Asset Spot Trading Volume Surges 300%
The capital flowing into the ETFs on Sept. 3 was led by more than $450 million U.S. allocated to BlackRock‘s (NYSE: $BLK) iShares Bitcoin Trust (NASDAQ: $IBIT), representing more than 60% of the total.
BlackRock’s Bitcoin Trust remains the largest BTC ETF with $63.94 billion U.S. under management.
The dozen Bitcoin ETFs listed in the U.S. now have combined net assets of $103.34 billion U.S., equivalent to 6.32% of Bitcoin’s market capitalization, according to market data.
Money is again flowing into the ETFs as Bitcoin’s price rebounds, rising above $80,000 U.S. on Sept. 3 amid a sustained rally in digital assets.
Until late August, Bitcoin’s price had been stuck trading between $60,000 U.S. and $65,000 U.S. for months.
The Bitcoin ETFs had seen cumulative outflows of nearly $5 billion U.S. in May and June of this year as the price of BTC fell to a 52-week low of $58,000 U.S.
Analysts say that institutional investors are now returning to the Bitcoin funds as the price of the largest cryptocurrency rallies.
BTC was trading at $79,500 U.S. on Sept. 4.
Source: finance.yahoo.com