Home›Crypto›Market Structure›Bitcoin ETF inflows fail to clarify institutional dema…

Bitcoin ETF inflows fail to clarify institutional demand

CoinShares said US crypto investment products pulled in about $4.1 billion in September, with BlackRock’s IBIT accounting for more than 53% of inflows.

Reported · Written up by our desk · Market Structure

CoinShares told Cointelegraph that while billions are flowing back into Bitcoin exchange traded funds, inflow totals alone do not show how much demand is coming specifically from institutions.

According to CoinShares head of research James Butterfill, BlackRock’s iShares Bitcoin Trust ETF, IBIT, accounted for more than 53% of US crypto investment product inflows, with about $4.1 billion attracted in September.

CoinShares also said crypto investment products brought in about $3.5 billion across the industry over the preceding five trading days, according to a Sept. 25 market update shared by the firm.

The firm added that some ETF buying can be driven by basis trades, which means inflows are not necessarily a direct bet on Bitcoin prices rising.

Latest closeBitcoin $84,380.94 ▲1.1%

More like this

Sources