US spot Bitcoin ETFs record $552.8M inflows as prices rebound

• Spot Bitcoin exchange-traded funds (ETFs) in the United States recorded net inflows of $552.78 million on Thursday.
• Bitcoin traded above $115,000 on Friday, gaining nearly 4% so far this week.
• Market participants are also watching the upcoming Federal Open Market Committee meeting on September 16-17.

Spot Bitcoin exchange-traded funds (ETFs) in the United States recorded net inflows of $552.78 million on Thursday, according to Farside Investors, extending a four-day streak of positive flows as institutional demand returned.

BlackRock’s iShares Bitcoin Trust (IBIT) attracted $366.2 million in inflows, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) drew $134.7 million.

Bitwise’s BITB added $40.43 million, while funds managed by VanEck, Invesco and Franklin Templeton also posted inflows.

The streak has brought cumulative inflows of $1.7 billion over four consecutive trading days.

This comes after the funds saw $751 million in outflows in August, their third-worst month since launching in January 2024.

August also saw strong activity in Ethereum-focused products, with spot ether ETFs posting $3.87 billion of inflows, their second-best month since debut.

The trend fueled a “capital rotation” narrative, contributing to Bitcoin’s decline to around $107,500 by the end of the month.

Ether ETFs began September with several days of outflows but returned to positive territory on Tuesday. On Thursday, the ETFs recorded $113.12 million in inflows.

Bitcoin and Ether prices rebound

Bitcoin traded above $115,000 on Friday, gaining nearly 4% so far this week after closing above key resistance levels.

Ethereum and Ripple also rebounded, rising about 5% and 6% respectively.

Bitcoin began the week facing resistance at its 50-day Exponential Moving Average (EMA) of $113,129, but rallied more than 2% on Wednesday to close above that threshold and extended gains through Thursday.

At the time of writing, BTC was approaching daily resistance at $116,000. A close above that level could pave the way for further gains toward the psychological threshold of $120,000.

Ethereum has been consolidating between $4,232 and $4,488 since August 29.

On Friday, it was nearing the upper boundary of that range at $4,488. A break above could set the stage for a rally toward its all-time high of $4,956.

Market participants are also watching the upcoming Federal Open Market Committee meeting on September 16-17.

According to CME Group’s FedWatch Tool, futures pricing implies a 92.5% probability of a 25 basis point rate cut and a 7.5% chance of a 50 basis point reduction.

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