Crypto
Bitcoin ETF Inflows Halted as BTC Holds Firm Near $78,000
Bitcoin ETFs ended their nine-day streak of inflows after attracting $2.8 billion, but still managed to hold near $78,000 as geopolitical and market pressure mounted.
The reversal came after BlackRock's IBIT drew in $277 million on Thursday, remaining the strongest contributor among the funds. The cumulative net inflows for IBIT reached $55 billion, with assets standing at $98.6 billion.
BlackRock digital assets head Robert Mitchnick stated that further legislation matters less for Bitcoin than for DeFi and other crypto segments.
BTC gained more than 24% in August, its best monthly increase since November 2024, despite the overall market pressure. Over a 24-hour period, BTC added 0.5%, while the CoinDesk 20 index fell 0.75%.