Bitcoin spot ETF net inflow of about KRW 4.5 trillion last week…attempt to retest record high

Minseung Kang

Summary

Last week, U.S. Bitcoin spot ETFs saw net inflows of about KRW 4.57 trillion.
BlackRock IBIT accounted for more than half of total inflows, attracting high interest from investors.
U.S. government shutdown uncertainty and news of Bitcoin approaching its record high stimulated ETF investor sentiment.

Last week, inflows to U.S. Bitcoin (BTC) spot exchange-traded funds (ETFs) recovered significantly, recording the second-highest weekly net inflow since their launch.

On the 4th (local time), according to crypto-focused media The Block, U.S. spot Bitcoin ETFs saw a total net inflow of $3.24 billion (about KRW 4.57 trillion) last week. This is the second-largest amount after the fourth week of November last year ($3.38 billion).

Of these, BlackRock's Bitcoin ETF IBT pulled in $1.8 billion, accounting for more than half of total inflows. IBIT's assets under management were counted at $96.2 billion. Next, Fidelity's FBTC attracted $692 million, making it the second-largest fund absorber.

ETF trading volume was also led by BlackRock. Last week, IBIT saw daily trading in the billions of dollars, while FBTC's daily volume was up to $715 million.

This inflow reverses last week's net outflow (about $1 billion).

The outlet said, "Uncertainty from a U.S. government shutdown (temporary work stoppage) is strengthening Bitcoin buying demand," and "As Bitcoin again approached the record high it set in August ($124,000), ETF investor sentiment was revived."

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