Bitcoin ETFs record $150 million inflow amid price rebound Bitcoin ETFs record $150 million inflow amid price rebound
Bloomberg analyst Eric Balchunas noted that the ETF flows have reached a new year-to-date high of $17.7 billion.
2 min read
Updated: Sep. 20, 2024 at 5:24 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Bitcoin price dipped to a daily low of $62,586 after briefly touching the $64,000 mark for the first time this month.
According to CryptoSlate data, the flagship digital asset has since recovered the dip and was trading at $63,127 as of press time.
Nevertheless, the current price reflects a notable recovery from its dip to under $53,000 earlier this month. As of Sept. 20, Bitcoin was up 7.5% over the past week and 3.21% over the past 30 days.
Inflows hit $150 million
Bitcoin’s positive price movement coincides with a significant inflow into spot Bitcoin exchange-traded funds (ETFs).
According to Farside Investors data, Bitcoin ETFs recorded a $158.3 million inflow on Sept. 19, marking a sharp reversal from the $52.7 million outflow recorded on the previous day.
The Ark 21Shares Bitcoin ETF (ARKB) and Fidelity Wise Origin Bitcoin Fund (FBTC) led the inflow. ARKB saw $81.1 million in inflows, followed by $49.9 million for Fidelity’s FBTC. Bitwise’s BITB ETF reported $10.4 million in inflows, while Grayscale’s BTC Mini-Trust and Franklin Templeton’s EZBC received $9.5 million and $7.4 million, respectively.
Notably, BlackRock’s IBIT had its third consecutive day of zero flows.
Meanwhile, Grayscale’s flagship Bitcoin product has seen a reduction in outflows. In recent weeks, outflows slowed to around $4.6 million on Sept. 13, with minimal activity since. Grayscale’s BTC Mini-Trust, which offers lower fees, appears to mitigate further outflows from the product.
Bloomberg Senior ETF Analyst Eric Balchunas highlighted the significance of the recent inflows, noting that Bitcoin ETFs have set a new high of $17.7 billion year-to-date.
Furthermore, Balchunas compared Bitcoin ETFs to gold ETFs, pointing out that gold ETFs account for 1% of the total gold market cap. In contrast, Bitcoin ETFs already make up 5% of Bitcoin’s total market cap despite existing for only nine months, compared to 22 years for gold ETFs.
He added:
“Even if we just use net flows: $17.7 billion is like 1.5% of BTC cap. [It is] so ahead of gold ETF impact (and those assets include a lot of price appreciation) in 9 months flat.”
Mentioned in this article
Bitcoin 
BlackRock 
Fidelity Investments 
Ark Invest 
Franklin Templeton 
Grayscale Investments 
Bitwise iShares Bitcoin Trust 
Grayscale Bitcoin Trust 
ARK 21Shares Bitcoin ETF 
Fidelity Wise Origin Bitcoin Trust 
Bitwise Bitcoin ETF Franklin Bitcoin ETF 
Eric Balchunas Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
Fidelity Investments
Fidelity Investments Inc., commonly referred to as Fidelity, is a multinational financial services corporation based in Boston, Massachusetts.
Ark Invest
ARK Investment Management LLC (ARK Invest) holds a precision lens on thematic investing.
Franklin Templeton
Franklin Resources, Inc., commonly known as Franklin Templeton, stands as an American multinational holding company rooted in the world of finance.
Grayscale Investments
Established in 2013 by Digital Currency Group, Grayscale Investments is a trusted authority on digital currency investing and cryptocurrency asset management.
Bitwise
Bitwise Asset Management pioneered the first cryptocurrency index fund and is the leading provider of rules-based exposure to the cryptoasset space..
The BlackRock Bitcoin ETF, known as the iShares Bitcoin Trust (IBIT), is an investment fund that provides regulated exposure to Bitcoin for investors.
The Grayscale Bitcoin Trust (GBTC) is a digital currency investment product that provides investors with access to Bitcoin through traditional investment channels.
The ARK 21Shares Bitcoin ETF (ARKB) is a digital asset ETF that seeks to track the performance of bitcoin, as measured by the performance of the CME CF Bitcoin Reference Rate – New York Variant (the “Index”).
The Fidelity Wise Origin Bitcoin Trust (FBTC) is a spot Bitcoin ETF that offers investors exposure to the price of Bitcoin.
The Bitwise Bitcoin ETF (BITB) is a newly launched exchange-traded fund that provides investors with exposure to Bitcoin.
The Franklin Bitcoin ETF, also known as EZBC, is an exchange-traded fund offered by Franklin Templeton, a trusted investment firm with a 75-year history.
Eric Balchunas is an American author, ETF analyst, and Senior ETF Analyst at Bloomberg Intelligence.