Bitcoin ETF

Bitcoin

BlackRock

The world’s biggest asset manager, BlackRock, attracted $184.4 million in inflows on Sept. 25 for its spot Bitcoin exchange-traded fund (ETF), marking the month’s highest daily inflow of any fund. 
The Bitwise Bitcoin ETF (BITB) was the only other fund to see inflows on Sept. 25, pulling in $2.1 million, while Fidelity Wise Bitcoin Origin Fund and Ark 21Shares Bitcoin ETF (ARKB) had outflows of $33.2 million and $47.4 million, respectively, according to Farside <a data-ct-non-breakable="null" href="https://farside.co.uk/btc/" rel="null" target="null" text="null" title="null">data</a>. 
September is typically considered bearish for Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>).
<h2 id="blackrock-posts-largest-daily-inflow-in-september">BlackRock posts largest daily inflow in September</h2>
So far, BlackRock’s iShares Bitcoin Trust (IBIT) has led September with the largest daily inflow at $184.4 million, while FBTC and ARKB trail behind with $102.1 million and $99.3 million on Sept. 13, respectively.
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 <img alt="BlackRock Bitcoin ETF posts September's biggest daily inflow of over $180M" name="" src="https://s3.cointelegraph.com/uploads/2024-09/01922de7-d97c-78b8-8ca9-7a508c69a0dd">
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 The total cumulative spot Bitcoin ETF inflow since launching in January is $17.94 billion. Source: Farside
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For a fifth consecutive day, total cumulative flows into spot Bitcoin ETFs were positive, amounting to $496.7 million over the period.
The streak follows the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/fed-juice-crypto-analyst-trimming-opportunities" rel="null" target="null" text="null" title="null">Federal Reserve’s much-anticipated decision</a> to implement a 50 basis point rate cut, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/50-bps-fed-rate-cut-bullish-crypto-markets" rel="null" target="null" text="null" title="null">a move the crypto industry</a> had been eyeing throughout 2024. Following the Sept. 18 decision, Bitcoin reclaimed $60,000, a level it hadn’t seen since Aug. 30.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-etf-trading-volume-1-billion-amid-crypto-crash-galaxy" rel="null" target="null" text="null" title="https://cointelegraph.com/news/bitcoin-etf-trading-volume-1-billion-amid-crypto-crash-galaxy">Bitcoin ETF trading volume tops $1B amid crypto crash — Galaxy</a>
In a Sept. 26 <a data-ct-non-breakable="null" href="https://x.com/ki_young_ju/status/1839148508127047990" rel="null" target="null" text="null" title="null">post</a> on X, CryptoQuant founder and CEO Ki Young Ju opined that the increasing demand for spot Bitcoin ETFs is a crucial reason why the US is “regaining dominance in Bitcoin holdings,” compared with the rest of the world.
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 <img alt="BlackRock Bitcoin ETF posts September's biggest daily inflow of over $180M" name="" src="https://s3.cointelegraph.com/uploads/2024-09/01922deb-3ff2-7b98-aded-abbba9aa5e0f">
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<h2 id="blackrock-amends-rule-with-etf-custodian-coinbase">BlackRock amends rule with ETF custodian Coinbase</h2>
On Sept. 23, Cointelegraph reported that BlackRock <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/blackrock-bitcoin-etf-amendment-coinbase" rel="null" target="null" text="null" title="https://cointelegraph.com/news/blackrock-bitcoin-etf-amendment-coinbase">filed for an amendment for its Bitcoin</a> ETF following widespread investor concerns over ETF custodian Coinbase’s onchain settlement practices.
BlackRock’s amendment requires Bitcoin withdrawals within 12 hours from Coinbase.&nbsp;
Increasingly, investors have been asking Coinbase to provide onchain proof of the Bitcoin bought on behalf of the spot ETFs.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/cz-downfall-medical-pot-crypto-sales-crypto-city-guide-to-seattle/" rel="null" target="null" text="null" title="null">Crypto City Guide to Seattle: Site of CZ’s downfall and pot crypto vendors</a>
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

BlackRock Bitcoin ETF posts September's biggest daily inflow of over $180M

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