On September 26, spot Bitcoin ETFs saw a dramatic influx of $365 million, marking the highest single-day inflows in September. This surge coincides with Bitcoin’s price surpassing $65,000 for the first time in nearly two months, driven by global rate cuts and institutional interest signaling a potential Q4 bull run.
Ark Invest’s Bitcoin ETF (ARKB) led the day with $113 million in inflows, while BlackRock’s IBIT followed closely with $93.4 million. BlackRock’s aggressive acquisition strategy has elevated its holdings to 359,606 BTC, positioning it as one of the largest Bitcoin holders.
Other ETFs also saw substantial inflows, with Fidelity’s FBTC and Bitwise’s BITB recording $74 million and $50 million, respectively. Notably, outflows from Grayscale’s GBTC were relatively modest at $7.7 million on the same day. Collectively, spot Bitcoin ETFs accumulated 5,602 BTC from the market.
The increase in ETF inflows is accompanied by strong trading volumes. BlackRock’s IBIT led with $1.52 billion in trading volume, while ProShares Bitcoin Strategy ETF (FBTC) recorded $355 million.
Crypto analyst Ki Young Ju highlighted that the U.S. is regaining its dominance in Bitcoin holdings, thanks to the robust flows into spot ETFs. This has significantly improved the ratio of U.S. Bitcoin holdings compared to other countries.
Institutions are positioning themselves for a potential Q4 rally as global central banks, including the People’s Bank of China (PBoC) and the Federal Reserve, continue to cut rates and inject liquidity into the market. QCP Capital anticipates further easing from the PBoC, which, combined with global rate cuts, could spark a “volatility supercycle” benefiting Bitcoin.
Arthur Hayes, a prominent crypto commentator, predicts that Bitcoin will play a crucial role in balancing the excesses of global financial policies, further fueling optimism for a price rally.
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