U.S. spot bitcoin ETFs recorded $517.19 million in net inflows on Wednesday, the largest single-day haul since May 4, as a broader crypto rally lifted prices across the board.
What drove the inflows
Eight of 12 spot bitcoin ETFs posted positive flows, led by BlackRock’s IBIT at $284.7 million. Ark & 21Shares’ ARKB added $77.7 million, while Fidelity’s FBTC brought in $62.4 million.
Analysts tied the surge to the U.S. Treasury Department’s announcement that it would at least double the size of liquidity support buyback operations for longer-dated nominal coupon securities across the 10- to 30-year segment. The SEC also proposed a rule creating two tailored exemptions for certain crypto investment contracts, allowing issuers to raise up to $75 million annually.
Jeff Mei, COO of BTSE, told The Block:
“When the Treasury signals it’s stepping in to cap Treasury yields, the dollar softens, risk appetites return, and bitcoin and crypto benefit.”
Institutional positioning, not retail
Rachael Lucas, crypto analyst at BTC Markets, said the flows reflected renewed institutional positioning rather than retail momentum. She described the buyers as longer-horizon allocators with the compliance frameworks and balance-sheet capacity to move size.
Both Lucas and Mei cautioned that inflows are unlikely to continue at this magnitude, citing upcoming CPI data and the evolving U.S.-Iran conflict as key variables.
Market reaction
Bitcoin climbed above $71,900 for the first time in two months, up 8.3% over 24 hours.
