Bitcoin Price Ticks Above $80K as U.S. Spot ETFs Attract Record Inflows

Bitcoin's price has risen above $79,520, reaching an intraday high of $80,475 as U.S. spot Bitcoin ETFs continue to attract massive inflows. Over the past eight consecutive trading sessions, these funds have drawn a staggering $2.8 billion.

The biggest contributor to this influx is BlackRock's IBIT, which has accounted for 72% of the total with an impressive $2.02 billion. In contrast, Grayscale's GBTC has been a net loser over the same period, shedding $50.4 million on Wednesday alone.

According to data from Farside Investors, cumulative net inflows for U.S. spot Bitcoin ETFs stand at a remarkable $54.7 billion. IBIT has drawn an impressive $63.1 billion while GBTC has bled $27.6 billion over that period.

Bloomberg ETF analyst Eric Balchunas tweeted that gold and Bitcoin funds had combined for a record-breaking $7 billion in flows over the past week, attributing the surge to a debasement trade pulling attention from AI.

Stephen Wundke, strategy and revenue director at Algoz Technologies, noted that weekly trading volume has topped $90 billion, roughly double the average. Weekly ETF inflows of nearly $2 billion have matched the previous 30 days combined, he said.