$1.61 Billion Crypto ETF Surge Hits Against Treasury Yield Spike

The crypto market is experiencing a surge in demand for Bitcoin ETFs, drawing in $1.61 billion over four consecutive sessions from August 17 to 20.

This influx of funds comes as the U.S. Treasury offered investors a 2.973% real yield for nearly three decades through its February 2056 TIPS reopening.

The ETF complex drew in $297.5 million on August 17, $189.3 million on August 18, $517.2 million on August 19, and $606.3 million on August 20, with BlackRock's IBIT supplying $503 million of the final day's total.

The resurgence in ETF demand has coincided with Bitcoin's price increase to around $77,821 on August 21, up 7.2% over 24 hours.