Spot Bitcoin ETFs Hit $365M In Inflows As BTC Surges Above $65K For First Time In Two Months

Updated: 27 September 2024

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Spot Bitcoin ETFs (exchange-traded funds) recorded over $365 million in inflows yesterday as BTC surges above $65K today for the first time in two months.

The $365.7 million in net inflows into spot Bitcoin ETFs on Sept. 26 was the highest since July 22, when the ETFs raked in $486 million, according to data from Farside Investors. That helped BTC pump more than 2% in the past 24 hours to trade at $65,479.99 as of 3:35 a.m. EST.

There have now been six consecutive days of inflows.

ARKB Leads US Spot Bitcoin ETFs In Inflows

Ark Invest and 21Shares’ ARKB registered the highest inflows yesterday, with $113.8 million entering its reserves. In second place was BlackRock’s IBIT with $93.4 million in net inflows.

All of the funds, except for BTCW and Grayscale’s GBTC, recorded inflows. BTCW posted zero flows, while GBTC resumed its outflow trend after two consecutive days of no inflows.

Despite not recording the largest inflows yesterday, IBIT maintains a commanding lead over the other funds. Since its launch at the start of the year, the spot Bitcoin ETF has raked in $21.312 billion.

The fund with the next biggest cumulative inflows is Fidelity’s FBTC with $9.862 billion. Meanwhile, Grayscale’s GBTC has lost $20.116 billion over the same period.

Crypto Fear And Greed Index Jumps 11 Points

The Crypto Fear and Greed Index indicates that investor sentiment turned positive over the past 24 hours. Following a neutral score of 50 yesterday, the index rose 11 points to 61, signaling that “Greed” has returned to the market.

#Crypto Fear & Greed Index has shifted from "Neutral" yesterday to "Greed" today as #Bitcoin broke above $65K.

How are you feeling about the market today? pic.twitter.com/UrL9UaJfNp

— CoinGecko (@coingecko) September 27, 2024

The change in investor sentiment is reflected in the crypto market cap, which rose more than 2% to over $2.3 trillion in the past 24 hours, according to CoinMarketCap.