• Bitcoin spot ETFs recorded a massive $1.11 billion net inflow last week as Bitcoin’s price rallied
• BlackRock’s IBIT was the best performing Bitcoin ETF, securing a weekly inflow of $499 million
• As of September 27, the total net assets of the Bitcoin ETFs stand around a whopping $6.12 billion
The bitcoin spot ETFs recently hit a major milestone, surpassing $1 billion in net inflows last week as bitcoin’s price rallied. This signals increased optimism from both retail and institutional crypto investors who expect further gains.
Bitcoin Spot ETFs’ Stellar Performance Last Week
From September 23rd to September 27th, bitcoin spot ETFs saw exceptional performance, defying expectations. Per SosoValue, these products witnessed a staggering $1.11 billion net inflow last week. BlackRock’s IBIT was the top performing bitcoin ETF, securing $499 million in weekly inflow.
Ark Invest’s ARKB was the second most traded, with $269 million inflow. Overall, BlackRock’s ETF continues to lead with a cumulative $2.142 billion net inflow, while Fidelity’s FBTC follows with $999 million and ARKB has $272 million.
Bitcoin ETFs Hit Major Milestone
As of September 27th, the total net assets of bitcoin ETFs stand at an impressive $6.121 billion. This represents nearly 47% of the entire bitcoin market cap, a huge feat considering these investment products launched only in January 2022.
Ethereum ETFs also recently debuted but have not seen the same performance as the bitcoin ETFs. Investor confidence and trust in bitcoin is clear as they continue piling into these products.
Many believe the bitcoin ETF story has just begun and assets will dramatically rise over coming years. Their success validates crypto markets and should boost bitcoin price and adoption.
Conclusion
The quick success of bitcoin spot ETFs highlights investor optimism about the cryptocurrency. These products have accumulated nearly half the value of the entire bitcoin market cap since launching this January. Many experts predict bitcoin ETFs are still in their infancy and have ample room for growth in assets under management. Their prosperity so far bodes well for bitcoin price and mainstream crypto adoption.
