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Forecast Trend Report by Period
U.S. spot Bitcoin exchange-traded funds recorded net inflows for a third straight week, signaling a recovery in institutional demand for cryptocurrency exposure.
The Block reported on Sept. 7, citing SoSoValue data, that U.S. spot Bitcoin ETFs posted total net inflows of $986.9 million last week, up from $924.5 million a week earlier. BlackRock’s IBIT led the inflows, drawing $691.5 million during the week.
Trading activity, however, declined. Total trading volume for spot Bitcoin ETFs fell to $14.5 billion last week from about $19 billion the previous week.
Spot Ether ETFs also extended their net inflow streak to three weeks. They recorded $218.4 million of net inflows last week. Trading volume over the same period fell to $4.1 billion from $6.3 billion a week earlier.
Monthly data also highlighted the strength of ETF inflows. Spot Bitcoin ETFs posted $3.52 billion in net inflows in August, marking the largest monthly inflow since September last year. Spot Ether ETFs also recorded their biggest monthly inflow since August last year, with $1.85 billion of net inflows last month.
Dominic John, an analyst at Zeus Research, said steady inflows into ETFs show institutional money is expanding Bitcoin exposure again. The demand is being driven by actual spot buying rather than speculative positioning built on leverage, he said.
Bitcoin rose to about $81,700 on Sept. 3 and is now trading around $80,000. If it holds the $80,000 level, the market structure remains positive, John said. He added that Bitcoin could gradually climb toward $82,000 to $85,000, though its next move is likely to depend heavily on macroeconomic variables such as U.S. inflation data.
#Crypto ETF
#Spot ETF
#Bitcoin ETF
#ETF
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ETH
Source: en.bloomingbit.io