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Spot Bitcoin ETFs saw $552.78M inflows, marking four consecutive positive days.
BlackRock’s IBIT led with $366.2M inflows, signaling institutional confidence in BTC.
Continued ETF inflows and potential rate cuts could push Bitcoin to a new all-time high.
The United States has seen a resurgence of institutional buying in spot Bitcoin exchange-traded funds, with the funds experiencing net inflows of $552.78 million on Thursday. According to the SoSoValue data, BlackRock iShares Bitcoin Trust (IBIT) was the leader with 366.2 million. The Wise Origin Bitcoin Fund (FBTC) of Fidelity was the next to pursue and received $134.7 million.
BITB by Bitwise recorded inflows of $40,43 million, and other funds overseen by VanEck, Invesco, and Franklin Templeton saw a positive change, too. The flows were the fourth day of net inflows in a row, and reached a total of 1.7 billion over the same period.
Kronos Research Chief Investment Officer Vincent Liu said that regular inflows show institutional confidence. He observed that capital was seen to be circling back to Bitcoin, and the placement of capital was based on expectations of the US monetary policy.
Also Read: Bitcoin Price Steady at $115,600 as Traders Eye Key Inflation Data
Spot Bitcoin ETFs registered outflows of $751 million in August, the third-worst month since their January start. Simultaneously, spot Ether ETFs registered inflows totaling $3.87 billion, which supports the argument that investors were moving the allocation off Bitcoin to Ethereum. Bitcoin was trading close to 107,500 towards the end of August.
The flows of September appear otherwise. Spot ETFs recorded outflows during the first five days of the month and thereafter returned to positive inflows. On Thursday, ETH-related funds registered new inflows of $113.12 million. Bitcoin price is trading around $115,455, up 1.04%. Ether increased by 2.87% to $4,553, and the crypto market as a whole rose 1.81%, according to The Block crypto price tracker.
Also Read: Crypto Prices Today: Bitcoin Price Hits $115,407, Ethereum at $4,523, Solana Leads with 6.25% Surge
Market participants are still awaiting the Federal Reserve policy meeting on September 16-17. According to the data provided in the FedWatch Tool by CME Group, a 25-basis-point cut in the rate is likely 92.5%, and a 50-basis-point cut in the rate is likely 7.5%.
According to analysts, additional inflows of ETFs may favor a Bitcoin price surge. Institutional flows, alongside stable macroeconomic conditions, can impact the dynamics of liquidity and supply in a few weeks.
