This week, Bitcoin ETFs in the US attracted over $1.1 billion, the largest weekly inflow since mid-July.
Weekly Highlights
On September 27, the funds attracted $494.4 million, the best performance since June. For the week, 11 funds accumulated $1.1 billion. The daily record was reached on September 26, with an inflow of $366 million.
Leading Fund Investments
The largest inflows were seen by the following funds: BlackRock’s iShares Bitcoin Trust ($499 million), ARK 21Shares Bitcoin ETF ($289.5 million), and Fidelity® Wise Origin® Bitcoin Fund ($206.1 million). Invesco & Galaxy, Franklin Templeton, Valkyrie, and VanEck accumulated between $5.7 million and $33.3 million. WisdomTree Bitcoin Fund did not record any inflows for the week.
Bitcoin Price Rise and Influencing Factors
Following the Federal Reserve's decision to cut interest rates by 50 basis points on September 18, Bitcoin began to rise in value. Its current price is $65,800, representing a 13.8% increase. The price is 10.8% below the all-time high of $73,738. It is observed that Bitcoin historically performs well in the fourth quarter.
The capital inflows into Bitcoin and Ether ETFs last week indicate sustained investor interest in cryptocurrencies. The upcoming fourth quarter has historically been a strong performer for Bitcoin.
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