US Bitcoin ETFs net $365 million in a single day as Bitcoin rallies above $65,000

US investors have injected approximately $365 million into spot Bitcoin ETFs in just one day, contributing to a total net buying of over $600 million for the week, as per data from Farside Investors. These significant inflows come as Bitcoin experiences a surge, surpassing $65,000 and reaching a monthly high. ARK Invest’s ARKB led the pack with around $114 million in new capital, while BlackRock’s IBIT continued its winning streak by logging roughly $93 million. Fidelity’s FBTC and Bitwise’s BITB collectively attracted about $124 million. Other funds managed by VanEck, Invesco, Valkyrie, and Franklin Templeton also witnessed gains, with the exception of WisdomTree’s BTCW, which had no flows. Grayscale’s Bitcoin Mini Trust gained nearly $3 million, while its high-cost product, the GBTC fund, experienced an outflow of around $7 million, the lowest in the past two weeks. The renewed interest in spot Bitcoin ETFs coincides with the recent price surge of Bitcoin, which can be attributed to positive economic indicators, the Federal Reserve’s interest rate cut, and potential stimulus measures in China. Additionally, market analysts anticipate a potential rate cut by the Federal Reserve, which could further boost Bitcoin’s price as lower interest rates make riskier assets like Bitcoin more appealing to investors.