Crypto Markets Surge with $1 Billion Inflows into Bitcoin ETFs
Bitcoin's price surge has brought renewed demand to Bitcoin ETFs, with over $1 billion in fresh investment pouring in over three days. The cryptocurrency's price climbed towards $73,000, gaining around 10% in 24 hours. BlackRock's iShares Bitcoin Trust led the way, attracting $588.5 million in inflows since Monday.
U.S. Bitcoin ETFs saw more than $500 million in investments on Wednesday alone, a significant shift from last week's withdrawals of over $385 million. The renewed interest in crypto markets comes as President Donald Trump pushed for lawmakers to pass the Clarity Act, which would create clearer rules for digital assets.
The Treasury Department's plan to increase government debt repurchases also contributed to the surge in risk assets, including Bitcoin and gold. Lower long-term yields made these assets more appealing compared to interest-paying assets.