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Spot bitcoin ETFs pull in $517 million as crypto rebounds
Inflows were led by BlackRock's IBIT, which saw $284.7 million in net purchases, according to SoSoValue data cited by The Block.
U.S. spot bitcoin exchange-traded funds recorded $517.19 million in net inflows on Wednesday, the largest daily total since May 4, as the broader crypto market rebounded, according to The Block.
SoSoValue data cited by The Block showed eight of 12 bitcoin ETFs logged inflows, with BlackRock's IBIT leading at $284.7 million. Ark & 21Shares' ARKB recorded $77.7 million, and Fidelity's FBTC reported $62.4 million.
The Block reported that analysts linked the move to a surprise catalyst in traditional markets, after the U.S. Treasury Department announced an expansion of liquidity support buyback operations for longer-dated nominal coupon securities across the 10- to 30-year segment.
In parallel, The Block said ether reclaimed $2,000 amid a broader rally tied to the Treasury buyback expansion and the SEC's latest proposal on tailored exemptions for certain crypto investment contracts.
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