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Bitcoin ETFs See Massive Inflows: Fidelity Leads Charge
20 Sep
Summary
- Bitcoin ETF inflows reached $433 million on September 18.
- Fidelity's FBTC contributed 72% of the total inflows.
- Total U.S. spot Bitcoin ETF assets surpassed $102 billion.
On September 18, U.S. spot Bitcoin ETFs recorded substantial net inflows totaling $433 million, marking a significant reversal from earlier outflows. Fidelity's Wise Origin Bitcoin Fund (FBTC) was the dominant contributor, attracting $310.72 million, which represented 72% of the day's total. BlackRock's iShares Bitcoin Trust (IBIT) also saw considerable investment, adding $108 million. Together, these two funds secured approximately 97% of the day's net inflows.
The surge in ETF investment coincided with a notable recovery in Bitcoin's price, which traded near $81,330. This event occurred after the preceding midweek saw nearly $746 million in ETF outflows, partially offsetting earlier selling pressure. Total assets held by U.S. spot Bitcoin ETFs reached $102.53 billion, constituting about 6.29% of Bitcoin's overall market value.
Technical indicators for Bitcoin showed positive momentum, with the daily Relative Strength Index (RSI) rising to 64.48. Liquidation data highlighted liquidity clusters around the $81,800 to $82,000 range, with further resistance levels identified near $83,000. Conversely, support was observed around the $80,000 mark, with potential declines targeting $78,300 to $78,700.
Recent macroeconomic events, including Federal Reserve rate adjustments and legislative developments concerning crypto market structure in the U.S., continue to influence market sentiment. These factors, alongside fund activity and profit-taking strategies, are expected to play a role in Bitcoin's future price movements.
