U.S. spot Bitcoin ETFs took in $324.6 million on September 18, with Fidelity's fund absorbing nearly all of it after two rough sessions of outflows. The rebound comes as Bitcoin traders also watch an October 18 deadline tied to a new Russia sanctions law that could tighten financial conditions.
Fidelity's Wise Origin Bitcoin Fund pulled in $310.7 million on September 18, accounting for roughly 96% of the $324.6 million net inflow that hit U.S. spot Bitcoin ETFs that day, according to Farside Investors data cited by NewsBTC. Bitwise's BITB, ARKB and VanEck's HODL added $9.7 million, $1.9 million and $2.3 million respectively. BlackRock's IBIT, though normally one of the largest contributors, finished flat for the session.
Fidelity took nearly all of Friday's inflow
The concentration is probably the most interesting part of the numbers. Friday wasn't a broad wave of institutional buying across every issuer — it was overwhelmingly a Fidelity day. That matters because the previous sessions had been rough: the funds recorded a $450.4 million combined outflow on September 15 and another $295.9 million outflow on September 16, before returning to positive territory with $159.5 million on September 17. Friday extended that rebound, though it doesn't erase the earlier selling.
Bitcoin's next macro test arrives October 18
President Trump signed H.R. 5334 on September 18, starting a 30-day clock for his administration to set tariffs on all Russian goods, including oil, natural gas and petroleum products, that could reach up to 500%. The ceiling is discretionary rather than mandatory, leaving the administration room over how aggressively it implements the measure. A separate provision could apply tariffs of up to 100% on the five largest countries that keep buying Russian crude or gas after the window closes. The law does not name those countries or set a minimum rate, leaving implementation more important than the headline ceiling itself.
Tighter financial conditions have historically weighed on crypto markets, and the Federal Reserve already raised its benchmark rate by a quarter percentage point on September 16 to a range of 3.75% to 4%, citing elevated inflation. Federal Reserve Governor Christopher Waller has said prolonged increases in energy costs can spread into other prices and lift inflation expectations, according to CryptoSlate. Whether the sanctions law becomes a broader shock or stays a limited measure should become clearer before October 18, when the administration must move from broad tariff authority to specific rates and named countries.
Sources: NewsBTC, CryptoSlate
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