Bitcoin ETF demand is getting hard to ignore. 🏦
U.S. spot Bitcoin ETFs attracted about $606 million in net inflows on Thursday, their strongest single-day inflow since May. That pushed total inflows across Monday through Thursday to roughly $1.6 billion, as Bitcoin climbed above $78,000 and headed toward its strongest weekly performance in more than two years.
The timing matters. This isn't just a price rally driven by leveraged traders anymore. Institutional money is flowing through regulated investment products at the same time Bitcoin is breaking higher, giving the move a stronger demand component.
Bitcoin has now gained roughly 20% over the week, while Ethereum has also posted a powerful rebound. The rally has been supported by renewed optimism around U.S. crypto legislation and the Treasury's decision to increase certain long-term bond buybacks.
One strong ETF session can always reverse, so the next few trading days matter. But $1.6 billion of inflows in four sessions is a pretty loud signal that institutional appetite for Bitcoin has returned. 👀
#BitcoinBestWeekSinceMarch2023
U.S. spot Bitcoin ETFs attracted about $606 million in net inflows on Thursday, their strongest single-day inflow since May. That pushed total inflows across Monday through Thursday to roughly $1.6 billion, as Bitcoin climbed above $78,000 and headed toward its strongest weekly performance in more than two years.
The timing matters. This isn't just a price rally driven by leveraged traders anymore. Institutional money is flowing through regulated investment products at the same time Bitcoin is breaking higher, giving the move a stronger demand component.
Bitcoin has now gained roughly 20% over the week, while Ethereum has also posted a powerful rebound. The rally has been supported by renewed optimism around U.S. crypto legislation and the Treasury's decision to increase certain long-term bond buybacks.
One strong ETF session can always reverse, so the next few trading days matter. But $1.6 billion of inflows in four sessions is a pretty loud signal that institutional appetite for Bitcoin has returned. 👀
#BitcoinBestWeekSinceMarch2023