Spot bitcoin exchange-traded funds in the U.S. recorded $517.19 million in net inflows on Wednesday, with eight of 12 funds reporting inflows. BlackRock’s IBIT, Ark & 21Shares’ ARKB, and Fidelity’s FBTC accounted for the largest inflows, totalling $284.7 million, $77.7 million, and $62.4 million respectively. The inflows followed a U.S. Treasury announcement to expand liquidity support buyback operations and the SEC’s proposed rule on crypto investment contract exemptions.
Analysts suggested the inflows reflected growing institutional confidence, with the Treasury’s buyback expansion seen as a catalyst for renewed interest in bitcoin. Jeff Mei, COO of BTSE, noted the move aligned with broader market sentiment, while Rachael Lucas of BTC Markets highlighted the significance of large allocators viewing current prices as entry opportunities. Bitcoin prices rose above $69,000, and ether reclaimed $2,000, with the broader crypto market up 8% overall.
Hyperliquid’s HYPE token surged 8.3% in 24 hours, while Lighter’s LIT token climbed 23.5%, reflecting heightened activity in derivatives markets. However, uncertainty remains over the sustainability of Treasury buybacks and the potential impact of upcoming CPI data. The SEC’s proposed rule, aimed at clarifying crypto offering exemptions, also faces questions about its implementation timeline and market effects.
Written by Oliver Grant
Markets Desk
