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Bitcoin ETFs draw $999M in new inflows as BTC hits record levels
U.S. bitcoin ETF investors added $999 million on Monday, the biggest single day since October 6, with BTC recently down to $86,552 after briefly reaching a record $126,080.
U.S. bitcoin exchange-traded funds saw $999 million in new investment on Monday, the largest single day since October 6, according to Farside Investors data cited by Bitcoin Magazine. The inflows came as bitcoin pushed to a new all-time high of $126,080, and Bitcoin’s price at the time of the report had recently stood at $86,552 after scraping $87,330 on Monday.
Bitcoin Magazine said the rally in ETF flows reflects how investors can gain exposure through SEC-approved funds launched in 2024. It added that when large investment hits these funds, price can move significantly, as happened during Monday’s trading.
The outlet also pointed to buyer profitability, citing Bloomberg ETF analyst James Seyffart, who said the average ETF buyer is now in profit after estimated ETF cost basis rose above $81.7 for the first time since January. It further noted that BlackRock’s iShares Bitcoin Trust received $381.4 million of Monday’s total, followed by ARK 21Shares Bitcoin ETF at $289.1 million and Fidelity’s Wise Origin Bitcoin Fund at $238.8 million.
Bitcoin Magazine attributed renewed interest in bitcoin to a shift in broader market conditions, including an August Treasury signal that it would at least double the size of liquidity-support buyback operations. It added that a Tuesday CryptoQuant report said bitcoin crossed above its 365-day moving average, a signal the asset has finished a bear market phase.
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