Bitcoin Whales Load Up on $1.2 Billion BTC Amid ETF Inflows

Bitcoin whales have been accumulating a significant amount of BTC since July 29, adding over 20,000 BTC worth $1.2 billion to their holdings.

This accumulation comes as U.S. spot Bitcoin ETFs attracted roughly $754.69 million in investor funds this week, marking one of the best weeks for these funds since April.

The recent influx of capital into these ETFs may indicate a tentative recovery in institutional demand for Bitcoin, although the spot price has not yet reflected this with a meaningful rally.

In contrast to some predictions that the Clarity Act would unlock a massive institutional bid for crypto, uncertainty around the act and stagnant price action have been cited as risks for broader momentum.