In a remarkable week for cryptocurrency, U.S. spot Bitcoin exchange-traded funds (ETFs) attracted over $1.1 billion in new investments, marking the highest inflow since mid-July. Notably, on September 27 alone, these funds saw an influx of $494.4 million, the largest single-day total since June 4, following a robust $366 million on September 26.

Leading the charge were BlackRock’s iShares Bitcoin Trust, which garnered $499 million, followed closely by the ARK 21Shares Bitcoin ETF with $289.5 million, and Fidelity’s Wise Origin Bitcoin Fund, which saw $206.1 million. Other participants in the market, including Invesco & Galaxy, Franklin Templeton, Valkyrie, and VanEck, experienced inflows ranging from $5.7 million to $33.3 million. However, the WisdomTree Bitcoin Fund did not report any inflows for the week.

These recent developments have pushed the total inflow for all 11 spot Bitcoin ETFs to an impressive $18.8 billion since their launch. This surge follows the Federal Reserve’s interest rate cut on September 18, which coincided with a 13.8% rise in Bitcoin’s price, bringing it to $65,800—now just 10.8% shy of its all-time high of $73,738 recorded on March 14.

As we head into the fourth quarter of 2024, historical data from CoinGlass reveals that Bitcoin has achieved gains of 50% or more during this period in over five of the last nine years. Meanwhile, U.S. spot Ether (ETH) ETFs also reported significant inflows this week, totaling $85 million, the largest since early August. Since their debut on July 23, Ethereum products have accumulated over $1.1 billion in inflows, despite experiencing $2.9 billion in outflows from the Grayscale Ethereum Trust.