US Spot Bitcoin ETFs Enjoy Second-Highest Weekly Inflows To Date

US spot Bitcoin exchange-traded funds (ETFs) drew in $3.24b last week, marking their second-largest week of inflows since launching in January 2024. The surge reflected renewed investor demand as Bitcoin prices climbed to fresh record highs.

Data from SoSoValue showed that only the week ending Nov. 22, 2024, saw higher inflows at $3.38b. The latest rebound reversed the previous week’s $902m in outflows and pushed four-week inflows close to $4b.

BlackRock’s iShares Bitcoin Trust, known as IBIT, dominated the flows, capturing $1.8b of last week’s net inflows. IBIT now manages $96.2b in assets, cementing its lead over rivals. Fidelity’s FBTC, the second-largest fund by net asset value, took in $692m, or about 38% of IBIT’s total.

Trading activity also tilted heavily toward IBIT, which saw several billion dollars worth of shares exchanged daily. By comparison, FBTC’s volume peaked at $715m. Analysts noted that BlackRock’s fund has become the preferred vehicle for institutional participation.

The inflows came as Bitcoin surged past $125,000 on Sunday, breaking its previous record near $124,000 set in August. The rally points to October’s reputation as a strong month for Bitcoin, with the token already up more than 10% so far this month.

Bitcoin surged to a new all-time high above $125,700 on Sunday morning, breaking past its previous record of $124,500 set in August.#Bitcoin #Cryptohttps://t.co/ujDxDEvPFm

Friday alone contributed $985m in net inflows, the second-highest single-day total since the $987m recorded on Jan. 6. The rapid rebound added momentum to Bitcoin’s price rally, which is increasingly being tied to the “Uptober” trend that traders anticipate each year.

Analysts said the US government shutdown may also be steering capital into perceived safe havens such as Bitcoin and gold. Gold hit fresh all-time highs during the week, while Bitcoin benefited from similar flows, reflecting investor caution in the face of political uncertainty.

Adding to the bullish backdrop, the total Bitcoin balance on centralized exchanges has dropped to a six-year low of 2.83m coins. The shrinking supply has intensified buy-side pressure, amplifying the impact of ETF inflows.

Market watchers see the $117,300 level as a strong support for Bitcoin, with upside potential toward $140,000 if momentum continues. The combination of record ETF demand and tightening supply has raised expectations for further gains.

The latest performance shows how quickly sentiment around Bitcoin ETFs can swing. Just a week earlier, the sector was absorbing heavy outflows, yet the turnaround has reinforced confidence that institutional adoption remains on track.

For investors, the growing dominance of IBIT and the accelerating pace of inflows reflect how spot Bitcoin ETFs are shaping the market.

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