Crypto
Bitcoin ETFs Soar After US Treasury Bond Buyback Announcement
Bitcoin exchange-traded funds (ETFs) in the US have seen significant inflows since the US Treasury announced it would buy back more long-term bonds. According to Nate Geraci, president of The ETF Store, these funds have attracted $5.3 billion in new capital since the announcement.
The latest week alone saw $2.4 billion flow into Bitcoin ETFs, which is a substantial portion of the total inflows since the Treasury's decision.
Geraci emphasized that his figures highlight the timing of these developments and do not establish a causal relationship between the Treasury's bond-buyback plans and the demand for Bitcoin ETFs.