Bitcoin ETF Inflows Surge to $750M as Whales Accumulate
Despite the Senate's delay of the CLARITY Act vote until September, institutional investors have been quietly accumulating Bitcoin. According to Santiment, wallets holding between 10 BTC and 10,000 BTC have accumulated more than 20,000 BTC, worth nearly $1.2 billion, since July 29. Most of this buying activity occurred while Bitcoin traded below $65,000.
Smaller investors, on the other hand, have continued to sell, with Santiment attributing this trend to the delayed CLARITY Act vote and Bitcoin's sideways price action. The analytics firm noted that whale buying while retail investors sell has often supported higher prices in previous market cycles.
Institutional demand is also picking up again, with U.S. spot Bitcoin ETFs attracting $754.69 million this week, their strongest weekly inflows since April. Nexo analyst Liya Kalchev said that these inflows have already crossed $500 million in August, with more than $240 million coming in on Wednesday alone.
The delayed CLARITY Act vote has not deterred institutions from investing in Bitcoin ETFs. The fact that they are buying carefully rather than chasing prices is a sign of cautious optimism and could be a good omen for the market.