U.S. spot Bitcoin exchange-traded funds attracted about $731m on Thursday, their strongest daily inflow since January, as Bitcoin’s rise above $80,000 revived risk appetite across the wider cryptocurrency market.
The single-day total was more than three times larger than the biggest inflow recorded during an 11-day run in late August, according to data from SoSoValue.
BlackRock’s IBIT accounted for approximately $454m of Thursday’s inflows. Ark and 21Shares’ ARKB brought in $138m, while Fidelity’s FBTC received $74m. Grayscale’s two funds recorded combined inflows of $57m.
VanEck’s HODL and WisdomTree’s BTCW were the only products to register outflows, losing $20m and $5m respectively.
The latest figures mark a sharp reversal from Tuesday, when Bitcoin ETFs saw $236m withdrawn. BlackRock’s IBIT alone represented $201m of those redemptions. The same fund has therefore been responsible for both the biggest outflow and the biggest inflow of the past week.
All of the funds rose in value by between 5.7% and 5.9% on Thursday. Their total net assets closed at $103.34bn, equivalent to slightly more than 6% of Bitcoin’s overall market capitalisation.
Since the funds launched in January 2024, cumulative net inflows have reached $55.44bn.
Friday’s figures will provide an early test of whether the renewed institutional demand can be sustained. A second successive daily inflow above $500m would represent the first prolonged period of strong institutional buying since the summer.
Bitcoin’s move above $80,000 has also helped trigger sharp gains among privacy-focused cryptocurrencies. Dash (DASH) climbed 17% over the previous 24 hours to reach $50, making it the best-performing asset among the 100 largest tokens by market value.
Zcash (ZEC) was the second-biggest riser, gaining 16.5%. LIT, ENA and UNI were among the other major gainers, while Bitcoin itself rose by 3.7%.
Market sentiment has improved beyond digital assets. The VIX, Wall Street’s commonly used fear gauge, fell to almost 14, its lowest level since January, TradingView data showed.
The index measures the options-based, 30-day implied volatility expected in the S&P 500 over a four-week period. A higher reading generally indicates that more investors are seeking options protection, often reflecting increased market anxiety.
Its latest decline suggests traders are showing limited concern, despite higher bond yields pointing to a deteriorating fiscal position in the United States and elsewhere.
The next major market event will be the US nonfarm payrolls report for August, due to be released by the US Bureau of Labor Statistics at 08:30 ET on Friday.
Consensus forecasts indicate that the US economy added 65,000 jobs last month, following an unexpected loss of 23,000 jobs in July. The unemployment rate is expected to rise to 4.2%, from 4.1%.
The employment figures could affect expectations surrounding Federal Reserve interest-rate decisions, while also influencing the value of the US dollar and the price of Bitcoin.
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