U.S. spot Bitcoin (BTC) Exchange-Traded Funds (ETFs) recorded a substantial net cash inflow of $588.22 million, marking the highest daily total since the beginning of the week. This latest surge brings the total net cash inflow into U.S. spot BTC ETFs to approximately $40.18 billion since their approval under the previous SEC administration, led by former chair Gary Gensler.
Remarkably, none of the U.S. spot BTC ETF issuers experienced net cash outflows on Thursday. BlackRock’s IBIT and Fidelity’s FBTC emerged as the top performers, attracting around $321 million and $209 million in inflows, respectively. This strong demand for Bitcoin-backed investment products has driven the total net assets of U.S. spot Bitcoin ETFs to approximately $123.43 billion.
Bitcoin Demand Remains Robust
The growing demand for Bitcoin continues to gain momentum, fueled in part by the increasing involvement of global central banks. Beyond directly purchasing Bitcoin, central banks have been investing in Bitcoin-related stocks, such as MicroStrategy and Metaplanet, further reflecting their confidence in the cryptocurrency’s potential.
In the U.S., several states are taking proactive steps toward Bitcoin adoption. Fifteen states have introduced bills aimed at establishing strategic Bitcoin reserves. States like Texas, Florida, Massachusetts, Ohio, and South Dakota are at the forefront of this initiative. Additionally, the Trump administration is advancing plans for a national Bitcoin stockpile to protect against the rapidly rising national debt, which now exceeds $35 trillion.
Bitcoin vs. Gold: A New Safe-Haven Asset?
As gold prices recently hit a new all-time high, Bitcoin appears poised to follow a similar trajectory. Increasingly, investors are considering Bitcoin as a superior long-term store of value compared to gold, boosting its appeal as an alternative asset. With Bitcoin’s demand showing no signs of slowing, the cryptocurrency may soon become a key player in the global investment landscape, mirroring the role of gold in traditional markets.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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