BTC ETFs record $1.1 billion in inflows in one week

US-based spot Bitcoin ETFs experience largest inflows since July. BlackRock and Fidelity dominate the market, ARK Invest surprised.

Investors in the U.S. invested about $1.1 billion in Bitcoin last week ETF's. This is evident from data from Farside Investors. This is the largest inflow of the current quarter and marks the biggest week of inflows since mid-July. On Sept. 27 alone, $494.4 million flowed into Bitcoin ETFs - the best day since June 4.

As usual in recent months, BlackRock and Fidelity ETFs recorded the largest shares, with $499 and $206.1 million, respectively. Surprisingly, ARKB, Ark Invest's ETF, managed to pull in $289.5 million - a new record for Cathie Wood's fund.

The recent inflows bring the total for all 11 spot ETFs since launching in January to $18.8 billion.

After six weeks of continuous outflows, Ethereum ETFs were also able to record weekly net inflows of more than $84 million. BlackRock's ETHA ETF, meanwhile, reached $1.1 billion for the first time.

The increased ETF inflows follow the interest rate cut by the U.S. central bank on Sept. 18, which caused a significant rebound in the crypto market. Since then, Bitcoin has risen 13.8 percent and temporarily breached the $66,000 mark. Ethereum recorded an increase of nearly 15 percent over the past two weeks.