Bitcoin Surges 22% Amid $1.92 Billion ETF Inflows
Bitcoin surged 22% to $76,963 on August 21 as $1.92 billion flowed into US spot Bitcoin ETFs over five sessions.
The rally marked the cryptocurrency's strongest weekly rise since March 2024 and followed a peak of $79,463 on Friday.
US Treasury buybacks and proposed crypto regulations drove the policy-fueled rally, with significant inflows underpinning the surge.
The iShares Bitcoin Trust NASDAQ:IBIT accounted for 69.4% of total weekly ETF inflows, totaling $1.331 billion.