The price of Bitcoin fell to a daily low of around $62,580 after temporarily attaining $64,000 earlier this month. The present price indicates a significant rebound from its decline to below $53,000 earlier this month.
As of September 22, Bitcoin had increased by 7.5% in the preceding week and 3.2% in the prior 30 days. The favorable price trajectory of Bitcoin aligns with a substantial influx into spot Bitcoin exchange-traded funds (ETFs).
Data from Farside Investors indicates that Bitcoin ETFs experienced an inflow of $158.3 million on September 19, representing a significant turnaround from the $52.7 million outflow noted the preceding day.
The Ark 21Shares Bitcoin ETF (ARKB) and Fidelity Wise Origin Bitcoin Fund (FBTC) experienced significant inflows, with ARKB attracting $81.1 million and FBTC garnering $49.9 million.
Bitwise’s BITB ETF recorded inflows of $10.4 million, but Grayscale’s BTC Mini-Trust and Franklin Templeton’s EZBC garnered $9.5 million and $7.4 million, respectively.
BlackRock’s IBIT experienced its third consecutive day of no inflows. Bitcoin ETFs have reached a year-to-date peak of $17.7 billion, whereas gold ETFs represent 1% of the overall gold market capitalization.
