US spot Bitcoin exchange-traded funds (ETFs) reversed a two-day streak of heavy outflows on Wednesday, registering $159.5 million in net inflows as Bitcoin prices climbed back above $77,000.
ETF Flows Turn Positive After Heavy Withdrawals
The recent inflow contrasts with the withdrawals seen earlier in the week, when spot Bitcoin ETFs saw $450.4 million leave on September 15 and another $295.9 million on September 16. Over those two sessions, approximately $746.3 million exited the funds before institutional interest appeared to return on September 17.
BlackRock’s iShares Bitcoin Trust (IBIT), one of the most prominent spot Bitcoin ETFs in the US market, led the resurgence by bringing in $183.7 million in new capital. In comparison, Fidelity’s FBTC experienced $16.6 million in withdrawals during the same period, and VanEck’s HODL reported a loss of $7.6 million. Other funds saw little significant movement.
| ETF | Net Flow (Sept. 17) |
|---|---|
| BlackRock IBIT | +$183.7 million |
| Fidelity FBTC | -$16.6 million |
| VanEck HODL | -$7.6 million |
After combining the figures from September 15 to 17, spot Bitcoin ETFs still posted approximately $586.8 million in net withdrawals over the three-day period. Despite the lingering negative balance, the return of inflows points to ongoing institutional interest following a rapid sell-off at the start of the week.
Despite recent turbulence, the re-emergence of positive flows in spot Bitcoin ETFs alongside the Bitcoin price recovery suggests institutional demand remains present.
Bitcoin Climbs Above $77,000
Bitcoin’s price rallied alongside the ETF inflow, gaining about 1.5% over the past 24 hours. The cryptocurrency advanced from around $76,400 to approximately $77,500, with a brief move toward $77,600 after spending much of the prior session trading below $77,000.
This rebound followed a decline to the $75,000-$76,000 range, which occurred after the CLARITY Act failed to progress in the Senate. The price movement highlighted renewed investor confidence and risk appetite in the market.
Market Sentiment and Macro Factors
The broader improvement in sentiment was also visible in traditional markets. US equity indices climbed on Thursday, with the S&P 500 increasing by 1.14% and the Nasdaq gaining 1.69%. The rally came as Treasury yields eased and oil prices pulled back.
Meanwhile, the Federal Reserve raised its policy interest rate by 25 basis points to a range of 3.75% to 4%, marking its first such move in over three years. Alongside the rate hike, the central bank signaled potential for further tightening in an effort to control inflation.
In contrast to Bitcoin, US spot Ethereum ETFs registered approximately $39.3 million in net outflows during the same September 17 session. The divergence between Bitcoin and Ethereum flows indicated that the latest recovery was focused specifically on BTC products rather than a broad return to cryptocurrency funds.
BlackRock, which managed the largest inflow among the ETFs, is a leading global asset management company with investments spanning equities, bonds, alternatives, and now digital assets through its iShares Bitcoin Trust.
Mini dictionary: CLARITY Act, a legislative proposal in the US Senate intended to provide clearer regulations and regulatory frameworks for digital assets and blockchain technology in the United States.
