Bitcoin ETF Demand Stays Strong Amid Price Dip and Economic Signals
- Bitcoin ETFs attracted $174.60 million on Friday, despite Bitcoin slipping below $80,000.
- Blackrock’s IBIT led with $117.38 million in inflows, while Fidelity’s FBTC added $57.22 million.
- Trading value across Bitcoin ETFs reached $2.95 billion, with net assets at $101.25 billion.
- Ether ETFs recorded net inflows of $26.46 million, with Blackrock’s ETHA contributing $57.79 million.
- U.S. nonfarm payrolls rose by a notable 162,000 in August, affecting market rate expectations.
The demand for ETFs remains strong despite Bitcoin’s price dip and robust U.S labor data that might affect interest rates decisions by the Federal Reserve in September.
Blackrock’s IBIT continues to dominate institutional Bitcoin access, gathering significant funds even as economic indicators suggest potential rate changes ahead.(Source)
