Crypto ETF Inflows Surge to $1 Billion Amid Macro Tailwinds and Regulatory Clarity
Bitcoin and Ether exchange-traded funds (ETFs) saw significant inflows this week, with Bitcoin ETFs attracting $517.2 million on Wednesday in their largest single-day haul since May 4.
The surge pushed August net inflows to $1.47 billion and brought the week's total to roughly $1 billion since Monday, already the strongest weekly performance since the week ended January 16.
Bitcoin traded near $72,000 on Thursday, up 11% over the previous 24 hours, according to CoinGecko. Ether climbed 19% to $2,286 during the same period.
The Treasury's expansion of buybacks for longer-dated government debt on Wednesday is seen as a key driver behind the renewed interest in digital assets. Jonatan Randin, senior market analyst at PrimeXBT, noted that markets interpreted the buybacks as a currency event rather than a growth signal.