 
 
On Wednesday, U.S.-listed Bitcoin ETFs saw $676 million in total daily net inflows. The positive flows coincided with Bitcoin’s ascent above the $120,000 mark for the first time since mid-August, setting sights on a new all-time high.
BlackRock’s IBIT Leads Net Inflows
According to Farside Investors’ data, the dozen Bitcoin funds pulled in $675.8 million in investor funds. Wednesday’s net inflow was the largest for a single day since mid-September. BlackRock’s Nasdaq-listed spot Bitcoin ETF, iShares Bitcoin Trust (IBIT), spearheaded yesterday’s inflows at $405.5 million. Fidelity’s FBTC wasn’t far behind, adding $179.3 million, while Bitwise’s BITB raked in $59 million in inflows.
The 12 Bitcoin spot ETFs now hold $150 billion in assets under management — equivalent to about 6.6% of Bitcoin’s total market cap.
Yesterday’s inflows mark a three-day positive streak since the beginning of the week, with Bitcoin ETFs pulling in $517 million on Monday, September 29, and $423 million on Tuesday, September 30. The healthy ETF inflows signal strong institutional demand that could propel BTC price into an extended rally.
Bitcoin Tops $120,000
Meanwhile, the underlying cryptocurrency experienced a notable recovery on Wednesday. According to CoinGecko data, Bitcoin rose 2% in the past 24 hours to trade hands at $120,110 as of publication time.
 
Over the past week, the premier cryptocurrency has surged by over 7.6%, rebounding after a recent lull as investors sought safe-haven assets amid the U.S. government shutdown.
Ethereum (ETH) surged 2.6% to $4,448, with other major altcoins enjoying a similar rebound. ETH-based spot ETFs are performing well in terms of attracting investor money. ETH funds raised $81 million on Wednesday, following inflows of $127.5 million and $547 million on Tuesday and Monday, respectively.
Despite the mid-September price pullback, inflows into both BTC and ETH ETFs indicate an enduring institutional confidence in the two dominant crypto assets.