Bitcoin ETFs See Record $263M Inflow as Bitcoin Price Surges Past $60K

Key Takeaways:

• On September 13, U.S.-listed spot Bitcoin ETFs saw a daily net inflow of $263.07 million, the highest in over a month, signaling renewed investor interest.
• Bitcoin surged nearly 3%, surpassing $60,000, while Ether climbed to $2,400 amidst growing expectations of a Federal Reserve rate cut and gains in traditional assets.
• Fidelity’s FBTC captured the largest portion of inflows at $102.09 million, followed by Ark Invest and Bitwise, while Grayscale’s GBTC received its first inflows after prolonged losses.

U.S.-listed spot Bitcoin exchange-traded funds (ETFs) attracted substantial inflows, totaling $263.07 million on September 13, marking their highest daily net inflow in over a month. 

This influx of investor interest coincided with a crypto market rally, driven by expectations of a Federal Reserve rate cut and strong gains in traditional assets. 

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Bitcoin and Ether Rally as Major ETFs See Record Inflows, Led by Fidelity, Ark Invest, and Bitwise

Bitcoin's price surged nearly 3%, while Ether reclaimed the $2,400 level with a 2.7% rise. Fidelity’s FBTC led the inflows, capturing $102.09 million, followed by Ark Invest’s ARKB with $99.27 million, and Bitwise’s BITB with $43.06 million. 

Grayscale's GBTC, which had seen a loss of over $20 billion since its inception, experienced its first inflow in a long time, receiving $6.66 million. Other inflows came from VanEck, Franklin Templeton, and Valkyrie, contributing a combined $11.99 million. 

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Bitcoin Surges Above $60,000 Amid Strong ETF Inflows and Renewed Investor Confidence

BlackRock's IBIT, the largest Bitcoin ETF by net assets, saw no inflows. The strong inflows pushed Bitcoin’s price up 4%, crossing the $60,000 mark, peaking at $60,619 before stabilizing at $59,703 according to CoinMarketCap data. 

This surge reflects renewed confidence in Bitcoin as investor activity heats up in anticipation of favorable macroeconomic shifts.

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FAQ:

• What caused the surge in Bitcoin ETF inflows? The substantial inflows were driven by investor optimism around a potential Federal Reserve rate cut and a broader crypto market rally, boosting confidence in Bitcoin ETFs.
• Which Bitcoin ETFs saw the highest inflows? Fidelity's FBTC led with $102.09 million, followed by Ark Invest’s ARKB ($99.27 million), and Bitwise’s BITB ($43.06 million).
• Did Grayscale's GBTC see any positive movement? Yes, Grayscale’s GBTC, after long-term losses, saw an inflow of $6.66 million, marking its first significant gain in a while.