US Public Debt Surge Fuels Bitcoin ETF Inflow Boom
Investors are returning to Bitcoin as the US public debt surges and key AI stocks waver. This rotation has driven a surge in ETF inflows, with BlackRock's IBIT leading the way.
Data shows that inflows into Bitcoin ETFs have continued soaring, with IBIT adding over $117 million in assets on Friday, bringing its total assets to over $62 billion. Fidelity's FBTC added $57 million in assets and now has $14 billion under management.
Total assets under management for these funds have grown from $3.52 billion in August to $101 billion this month. This growth is not limited to ETFs, as Bitcoin treasury companies are also accumulating coins.
Strategy, a company that surprised investors by buying Bitcoin last week, now holds 845,050 coins. Strive, associated with Vivek Ramaswamy, has continued accumulating and now holds 23,156 coins.