Bitcoin ETFs draw $517M in largest one-day inflow since early May
Investors have poured more than $1 billion into US spot Bitcoin ETFs this week as BTC neared $72,000 and Ether climbed 19% to about $2,286 on Thursday.
On Wednesday, US spot Bitcoin exchange-traded funds (ETFs) witnessed their largest single-day inflow since May 4, with a net gain of $517.2 million, pushing August inflows to $1.47 billion. The inflows surged as Bitcoin prices neared $72,000 and Ether climbed 19% to approximately $2,286 on Thursday. This week's total inflows amounted to $1.47 billion, marking the strongest weekly net inflow since the week ending January 16, when they brought in about $1.42 billion.
The surge in investment coincided with a US Treasury decision to expand buybacks of longer-dated government debt and renewed focus on crypto regulation after President Donald Trump advocated for the CLARITY Act at a White House event. Analyst Jonatan Randin from PrimeXBT suggested that the Treasury's decision to step in at the longer end of the yield curve led to a drop in yields and the dollar, thus making Bitcoin price movements more akin to a currency event than a growth one.
At the time of writing on Thursday, Bitcoin traded close to $72,000, up 11% in the past 24 hours, while Ether rose 19% to $2,286. Spot Ether ETFs also recorded $189.2 million in net inflows on Wednesday, bringing the week's total inflows to around $291.5 million.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
