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Largest Weekly Inflow Since July 2022
Bitcoin exchange-traded products (ETPs) recorded net inflows of 20,685 BTC last week, the largest weekly intake since July 2022, according to data from digital assets research firm K33 Research. This significant influx pushed the combined holdings of U.S. spot Bitcoin ETFs to 1.32 million BTC, surpassing the previous record set on July 30.
U.S. ETFs Dominate Global Inflows
Nearly 97% of the total inflows came from U.S.-based Bitcoin ETFs, reflecting strong investor demand in the lead-up to this week’s FOMC meeting. According to André Dragosch, Head of Research for Europe at Bitwise Investments, ETF flows are becoming “one of the key determinants of Bitcoin’s performance.”
“The percentage share of Bitcoin’s performance explained by changes in ETP flows has reached a new all-time high,” Dragosch told Decrypt.
Ethereum Outflows Hint at Investor Shift
Dragosch also pointed to a clear shift in investor preference:
“There appears to be a ‘re-rotation’ from Ethereum back to Bitcoin in terms of investor flows.”
Over the past week, inflows into Bitcoin ETFs exceeded new supply by nearly 9x, which Bitwise says is a major tailwind for price strength.
Risk Appetite Rises, but Volatility Remains Low
In total, investors added 22,853 BTC in the last 30 days, outpacing the 14,056 BTC mined over the same period. Fidelity’s FBTC led the surge with an $843 million net inflow—36% of the weekly total.
Still, K33 noted in its Tuesday investor note that volatility remains muted, with seven-day volatility holding below 1.3% for 11 consecutive days, the second-longest stretch this year. Implied volatility also remains near multi-year lows.
