Home›Crypto›Market Structure›Spot Bitcoin ETF inflows hit $1.61B as TIPS yields rise

Spot Bitcoin ETF inflows hit $1.61B as TIPS yields rise

Four straight sessions of inflows totaling $1.61 billion since Aug. 17 run up against a $183 billion two-, five-, and seven-year Treasury auction slate from Aug. 25 to Aug. 27.

Reported · Written up by our desk · Market Structure

CryptoSlate reports that four consecutive U.S. spot Bitcoin ETF inflow sessions have pushed total demand to $1.61 billion from Aug. 17 through Aug. 20, according to Farside Investors.

The timing comes after the U.S. Treasury cleared a February 2056 TIPS reopening on Aug. 20 at a 2.973% real yield, about 50 basis points above the original-issue level for the same security in February. CryptoSlate notes that this created a new competing long-duration benchmark with nearly three decades to maturity and an inflation-adjusted yield close to 3% per year.

Bitcoin was trading near $77,821 on Aug. 21, up 7.2% over 24 hours, but the outlet says the next test of durability arrives quickly. CryptoSlate points to a $183 billion series of Treasury note auctions, scheduled for Aug. 25 through Aug. 27, with the long real yield still near 2.97%.

CryptoSlate also cites that daily net inflows were $297.5 million on Aug. 17, $189.3 million on Aug. 18, $517.2 million on Aug. 19, and $606.3 million on Aug. 20, with BlackRock’s IBIT contributing $503 million of the final day’s total. The outlet adds that ETF flow tables are end-of-day reports and do not show the precise timing or execution details of underlying spot Bitcoin purchases.

Latest closeBitcoin $77,319.52 ▲5.9%

More like this

Sources