BlackRock’s IBIT Leads a Surge in ETF Inflows

American investors are rotating back into Bitcoin (CRYPTO: BTC) as US public debt surges and key artificial intelligence (AI) stocks like Nvidia (NASDAQ:NVDA) and Micron (NASDAQ:MU) waver. This rotation has fueled a sharp rise in ETF inflows and a comeback in Bitcoin’s price.

Bitcoin ETF Inflows are Soaring

One of the best measures to assess Bitcoin’s demand among investors is to look at the performance of ETFs. Data shows that inflows into these funds has continued soaring, with BlackRock’s IBIT being the top driver. 

IBIT added over $117 million in inflows on Friday, bringing its total assets to over $62 billion. It is followed by Fidelity’s FBTC, which added $57 million in assets, and now has $14 billion in assets. In total, these funds have added $770 million in assets this month after adding $3.52 billion in August. They now hold $101 billion in assets under management.

The same growth is happening among Bitcoin treasury companies. Strategy (CRYPTO: MSTR) surprised investors by buying Bitcoin last week, bringing its total holdings to 845,050. Strive (NASDAQ:ASST), which is associated with Vivek Ramaswamy, has continued accumulating and now holds 23,156 coins. 

The ongoing Bitcoin demand has coincided with the rising jitters about the state of the American economy as the public debt surges. It crossed the $40 trillion mark recently, and this growth will continue amid a surge in deficits. As a result, bond yields have continued rising in the past few months.