Bitcoin ETFs Draw $337.6M as BlackRock, Fidelity Lead
US spot Bitcoin ETFs absorbed $337.6 million in new subscriptions last week, marking a third consecutive week of inflows and extending a six-week streak totaling roughly $2.26 billion, according to ambcrypto.com, which cited Farside data.
BlackRock’s IBIT led the pack with $208.9 million in inflows, while Fidelity’s FBTC added $104.6 million. The two issuers accounted for the largest share of the week’s capital and have been the dominant recipients of ETF investment for much of the year, the outlet reported.
Weekly ETF demand reached 26,762 BTC, reversing negative flows seen from May through July. Ambcrypto.com noted that ETFs absorbed roughly 3,800 BTC per day against miner production of about 450 BTC daily, placing institutional demand at roughly 8.5 times new issuance. The report said sustained accumulation could tighten available supply as Bitcoin trades near $80,000, though weaker demand from a narrower set of issuers could leave prices more exposed to spot market swings.
The outlet also pointed to growth outside the US market. Bitwise’s European BTC1 exchange-traded product reached $155.5 million in assets, up from an earlier range of $100 million to $130 million, with holdings climbing to about 1,961 BTC, per Bitwise Investments data cited in the report. The product carries a 0.05% fee and holds its Bitcoin in cold storage, according to ambcrypto.com.
While US-based funds continue to represent the bulk of ETF demand, the European product’s growth suggests regulated Bitcoin investment vehicles are expanding beyond the United States, the report said.
Based on reporting by ambcrypto.com.
