US spot Bitcoin exchange-traded funds (ETFs) attracted almost $2.39 billion in net inflows last week, even as Bitcoin gave back part of its early-week rally.
The ETFs recorded positive flows during every trading session from Sept. 21 through Sept. 25. Monday delivered the biggest haul at $999 million, followed by another $714.7 million on Tuesday. Inflows then eased to $346.9 million on Wednesday, $190.7 million on Thursday and $134.5 million on Friday. That brought the five-day total to approximately $2.386 billion.
Bitcoin ETF flows (Source: Farside Investors)
The run also extended the ETFs' net inflow streak to seven consecutive trading sessions.
BlackRock and Fidelity dominate Bitcoin ETF inflows
BlackRock's IBIT was the biggest contributor last week after attracting roughly $1.16 billion across the five sessions. Fidelity's FBTC followed with about $701.6 million, while ARK 21Shares' ARKB brought in approximately $294.7 million.
Even Friday's smaller $134.5 million inflow was led by another $97 million entering IBIT and $49.3 million going into FBTC, partly offset by an $11.8 million outflow from Bitwise's BITB.
Bitcoin pulls back after touching $87,000
Bitcoin's price action was much more volatile. BTC began Sept. 21 near $81,200 before surging and briefly reaching roughly $87,360. It remained above $86,000 on Tuesday before falling about 2% on Wednesday and ending the session around $84,400.
Bitcoin subsequently traded mostly around $84,000 through Thursday and Friday, closing Sept. 25 near $84,100. Bitcoin stabilized during the weekend and climbed back toward $85,000 on Sunday, and briefly traded above $85,100. However, those gains did not hold.
At press time, BTC was trading around $83,070, down roughly 2% over the past 24 hours after falling sharply from its weekend highs. The divergence leaves one key trend intact heading into the new week: ETF investors continued accumulating Bitcoin even as it retreated from its recent highs.