Bitcoin ETF inflows cross $365.7 mln – Did China help?

Bitcoin ETFs rebound, defying September’s bearish trend with record inflows and Bitcoin's surge past $60,000.

BlackRock’s spot Bitcoin ETF recorded a $184.4 million inflow, the month’s highest single-day surge.Despite September’s bearish reputation for BTC, both the cryptocurrency and its associated ETFs have defied expectations with a trend reversal.Leading the charge was Ark’s ARKB with $113.8 million, followed by Blackrock’s IBT at $93.4 million.VanEck’s HODL, Invesco’s BTCO, and Franklin’s EZBC also contributed inflows of $22.1 million, $6.5 million, and $5.7 million, respectively.

Notably, on the 25th of September, BlackRock, the world’s largest asset manager, witnessed an extraordinary surge of $184.4 million in inflows for its spot Bitcoin ETF, making it the highest single-day inflow of the month for any fund.This spike comes amid growing market speculation, potentially influenced by developments in Asia.

Earlier in the week, the People’s Bank of China took easing measures by cutting the reserve requirement ratio for mainland banks by 50 basis points and lowering the seven-day reverse repo rate by 20 basis points to 1.5%.

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