Bitcoin BTC$84,127.88 investors have done it.
They've poured billions into U.S.-listed spot bitcoin exchange-traded funds (ETFs) in recent weeks. The result: these ETFs now sit on nearly $800 million in net inflows for the year, according to data source SoSoValue. That's a 180-degree turn from the red ink earlier this year.
Here's how bad it got. On July 13, the same ETFs were down $5.8 billion for the year. That was the low point, according to data analyzed by CoinDesk.
The turnaround lines up with bitcoin's price recovery to $85,000 from under $58,000 in early June. That price rise, combined with the ETF inflows, has convinced some analysts a new bull run is already underway.
Nearly $4 billion of those inflows have come in since U.S. Treasury Secretary Scott Bessent's August announcement of increased bond purchases, a liquidity management tool rolled out as bond yields surged to multi-year highs.
Still, there is much work to do for the bulls. At $800 million, net inflows for the year are still way smaller than $35.2 billion in 2024 and $21.4 billion in 2025.
These ETFs have pulled in money for six straight days, even as bitcoin's rally has stalled above $85,000 since Tuesday.
In six days, the funds have attracted $2.84 billion. Impressive, sure. But it loses some shine next to the only two other six-day streaks on record.
One ran from Feb. 22 to 29, 2024, and brought in $2.35 billion. The other, from Nov. 6 to 13, 2024, pulled in $4.73 billion, nearly double what just happened.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
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