Key Takeaways
- US spot Bitcoin ETFs attracted $32.4 million in net inflows on September 23, marking the fifth consecutive positive session.
- The five-session period generated approximately $2.34 billion in total Bitcoin ETF inflows.
- Morgan Stanley’s MSBT captured all inflows on September 23, with IBIT and FBTC showing zero activity.
- Bitcoin dropped below $84,000 during continued ETF buying, retreating from levels above $87,000 reached earlier.
- Daily inflow momentum declined dramatically from $714.7 million to $32.4 million, focusing attention on upcoming flow reports.
US spot Bitcoin exchange-traded funds maintained their positive momentum on Wednesday, though Bitcoin retraced portions of its recent advance. According to preliminary Farside Investors data, Bitcoin ETF inflows registered $32.4 million on September 23. This marked the fifth consecutive trading day of positive flows, occurring as BTC declined below $84,000 following earlier trades above $87,000.
Five-Day Positive Streak Continues for Bitcoin ETFs
Wednesday’s inflows followed several more robust sessions. A previous analysis of Monday’s near-$1 billion ETF intake revealed that US spot Bitcoin funds captured approximately $999 million on September 21. The following day brought $714.7 million in additional capital, sustaining institutional appetite throughout Bitcoin’s recovery phase.
The five-day run began with $159.5 million on September 17. Flows increased to $433 million on September 18 before gaining substantial momentum early in the week. Combined with the preliminary September 23 data, Bitcoin ETF inflows accumulated roughly $2.34 billion during this five-day trading window.
MSBT Captures All Wednesday Inflows
Morgan Stanley’s MSBT accounted for the complete $32.4 million inflow on Wednesday. Major competitors including BlackRock’s IBIT and Fidelity’s FBTC registered zero flows in the most recent data. This represented a dramatic deceleration from Tuesday’s $714.7 million aggregate. Tuesday saw no fund report net outflows, with multiple issuers collecting fresh capital. This transition followed two consecutive withdrawal days on September 15 and 16, when funds experienced losses of $450.4 million and $295.9 million respectively, before flows turned positive on Thursday.
The diminished daily total arrived after a four-session stretch had already accumulated approximately $2.31 billion. An earlier report on the ETF winning streak indicated that BlackRock dominated September 22 with $350.3 million. Fidelity secured $257.4 million, while Morgan Stanley contributed $99 million during that session.
BTC Retreats While ETF Demand Persists
Bitcoin tracked a contrasting path during Wednesday’s trading. BTC declined from levels above $86,000 toward $84,000, temporarily breaking below that threshold. A market analysis covering Bitcoin’s decline noted that elevated US Treasury yields contributed to downward pressure, with the 10-year yield climbing above 5%.
The price action left Bitcoin substantially below its recent weekly peak despite ongoing ETF purchases. Current data demonstrates that fund demand stayed positive while broader spot market selling drove BTC lower. The five-day inflow sequence persists, though Wednesday’s contribution measured considerably smaller than preceding sessions.
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