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Bitcoin posts a 25% August return as ETFs see heavy inflows
Bitcoin gained 25% in August, helped by a U.S. Treasury plan to expand debt repurchases and a surge of ETF inflows totaling more than $2.8 billion.
Bitcoin posted a strong August, delivering 25% returns after typically weaker summer performance, according to Bitwise’s European Head of Research, André Dragosch, as cited by Bitcoin Magazine.
The report attributes the shift to mid-August developments in macro markets, including the U.S. Treasury Department saying it would more than double the size of its government debt repurchases, after which long-term yields rose and then supported a more risk-on environment.
Lower long-term yields can reduce the opportunity cost of holding assets like bitcoin, the outlet said, noting that digital asset momentum also followed political comments urging lawmakers to advance the proposed crypto Clarity Act. It also highlighted that investors returned to bitcoin ETFs in August, adding more than $2.8 billion, the most since October.
Bitcoin Magazine further said August marked the best run for bitcoin in three years, with the coin up nearly over 20% over the past month and its third-best August in history, behind 2017 and 2013.
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