Crypto
Bitcoin ETFs End Inflow Streak as Institutional Investors Focus on Altcoins
Bitcoin ETFs ended their nine-day streak of inflows after attracting $2.8 billion, but Bitcoin itself held steady near $78,000 despite geopolitical and market pressure.
The reversal came as BlackRock's IBIT drew in $277 million on Thursday, making it the strongest contributor among the funds. The cumulative net inflows for IBIT reached $55 billion, while assets stood at $98.6 billion. Bitcoin traded near $78,500.
BlackRock's digital assets head Robert Mitchnick said that institutional investors do not view further legislation as essential to Bitcoin's base case, but rather see it as possible upside. He noted that the CLARITY Act carries greater importance for DeFi and other complex crypto categories, where regulation remains less settled.