BlackRock spot Bitcoin ETF tops $1B inflows in best week since April

Spot Bitcoin ETFs racked up $1.05 billion in inflows last week, their strongest performance since April and the third-largest weekly haul since the products launched in January. The surge pushed total assets under management past $62 billion as institutional investors piled back in, reversing a two-month lull in demand.

After a slow June and July, Bitcoin’s price has climbed 15% since mid-August, partly on expectations the Federal Reserve will begin cutting interest rates next month. Lower rates make risk assets like Bitcoin more attractive compared with yield-bearing bonds. The renewed price strength has coincided with renewed ETF buying, suggesting institutions are treating the recent dip below $50,000 as a fresh entry point rather than a warning sign.

The biggest recipients were BlackRock’s IBIT and Fidelity’s FBTC, which together took in $850 million, according to data tracked by CoinShares. Smaller funds like Bitwise’s BITB and VanEck’s HODL also saw strong flows, while Grayscale’s long-standing GBTC continued to bleed assets, losing another $140 million as clients rotated into cheaper rivals. Short-term traders added leverage via the new Bitcoin futures ETFs, pushing their combined assets to a record $1.9 billion.

If the trend continues, it could signal the start of a broader institutional rotation into crypto. Analysts at JPMorgan now say spot Bitcoin ETFs may absorb as much as $15 billion in new money by the end of the year, provided macro conditions stay supportive. That would push Bitcoin’s price materially higher and could finally break the $60,000 psychological barrier that has capped rallies since March.