- Bitcoin ETFs recorded $101.1 million in inflows as Bitcoin recovered and climbed toward $78,000.
- The positive flows suggest institutional demand remains strong despite recent volatility.
US spot Bitcoin ETFs recorded $101.1 million in net inflows on September 2 as Bitcoin recovered from an intraday decline and climbed back above $77,700. The return to positive flows came after a sharp selloff at the start of the month.
The latest inflows followed $236.5 million in net outflows on September 1, marking a notable reversal in investor activity. While the new buying did not fully offset the previous losses, it showed that demand for Bitcoin remained present as BTC approached the $78,000 level.
BlackRock Leads Bitcoin ETF Inflows
BlackRock’s IBIT led the Bitcoin ETF market with $115.4 million in net inflows. Bitwise’s BITB added $4.2 million, while MSBT recorded $7.3 million.
Grayscale’s lower-fee Bitcoin fund also attracted $30.4 million. However, this was partly offset by $56.2 million in outflows from the firm’s flagship GBTC.
The other tracked ETFs recorded no net flows during the session. BlackRock’s strong performance helped lift total Bitcoin ETF flows back into positive territory.
Bitcoin Recovers From Intraday Drop
Bitcoin also showed signs of recovery after falling toward the mid-$76,000 range.
BTC later climbed above $77,000 and reached roughly $77,900 during the recovery. It was trading near $77,759 early Thursday, representing a 0.25% gain over the previous 24 hours.
The relatively small daily gain hides a more active trading session. Bitcoin moved sharply lower before buyers stepped in and pushed the price back toward $78,000.
The recovery came alongside the return of positive ETF flows. This suggests that buyers remained willing to enter the market around current price levels.
Can Bitcoin ETFs Keep Supporting BTC?
Bitcoin ETF flows have taken a sharp turn since the start of September. The funds pulled in $216.7 million on August 31, followed by $236.5 million in outflows on September 1. They then returned to positive territory with $101.1 million in inflows on September 2.
The latest inflows come as Bitcoin tries to reclaim the $78,000 level. Stronger demand from ETF investors could help BTC hold its recent gains and push higher.
However, continued outflows could have the opposite effect. If institutional investors resume selling, Bitcoin could face renewed pressure and retest the recent lows.
For now, the return of positive ETF flows suggests that buyers are still willing to step in as BTC trades near $78,000.
ALSO READ: Why Privacy Is Becoming Crypto’s Next Big Battleground
DISCLAIMER:
This article reflects the author’s views and is provided for informational purposes only. While we strive for accuracy, the publisher does not guarantee that all information is complete or current. Readers should verify important information and consult appropriate sources before making decisions based on this content.