Trend Forecast Report by Period
Spot Bitcoin exchange-traded funds (ETFs) in the U.S. have seen net inflows for the third consecutive week, indicating a resurgence in institutional interest for cryptocurrency investment.
According to The Block, citing data from SoSoValue on September 7, U.S. spot Bitcoin ETFs experienced total net inflows of $986.9 million last week, up from $924.5 million the previous week. BlackRock’s IBIT was the primary contributor, attracting $691.5 million during this period.
Despite these inflows, trading activity witnessed a decline. The total trading volume for spot Bitcoin ETFs decreased to $14.5 billion last week, down from approximately $19 billion the week prior.
Spot Ether ETFs have also extended their inflow streak to three weeks, with $218.4 million in net inflows recorded last week. Correspondingly, trading volume for this asset class fell to $4.1 billion, down from $6.3 billion a week earlier.
Monthly trends further underscore the robustness of ETF inflows. Spot Bitcoin ETFs reached $3.52 billion in net inflows for August, marking the highest monthly influx since September of the previous year. Spot Ether ETFs also noted their largest monthly inflow since last August, with $1.85 billion in net inflows last month.
Dominic John, an analyst at Zeus Research, remarked that the consistent inflows into ETFs indicate that institutional capital is increasing its stake in Bitcoin again. He emphasized that this demand stems from actual spot purchases rather than speculative leverage-driven positions.
Bitcoin peaked at around $81,700 on September 3 and is currently trading near $80,000. John suggests that if Bitcoin maintains this $80,000 threshold, it could indicate a positive market structure. He forecasts that Bitcoin may gradually rise towards the range of $82,000 to $85,000, although its upcoming movements are likely to be influenced significantly by broader economic factors such as U.S. inflation data.