BlackRock’s IBIT accounted for most of the inflows at $1.1 billion, with zero net outflows from any product.

Bitcoin (BTC) exchange-traded funds (ETFs) listed in the U.S. logged a record $1.38 billion in net inflows on Thursday, a day after Republican Donald Trump won the U.S. presidency.

BlackRock’s IBIT took on over $1.1 billion in net inflows, the most among all products, and its highest-ever since going live in January. Cumulative net inflows across all products crossed $25 billion for the first time. None of the twelve ETFs showed any net outflows.

Ether (ETH) ETFs logged $78 million in net inflows on renewed bullishness for the decentralized finance (DeFi) space following Trump’s victory. ETH rose more than 10% on Thursday as expectations of pro-crypto policies and deregulation in a Trump regime boosted investor confidence in the asset.

BTC trades above $76,000 in Asian morning hours Friday, up nearly 10% over the past week. In line with analyst expectations, the Federal Reserve cut rates by 25 basis points on Thursday in a move that typically supports risk assets like bitcoin by increasing liquidity and weakening the dollar.

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Weekly inflows might challenge records as technical pointers suggest a BTC rally in the works.

Bitcoin (BTC) exchange-traded funds (ETFs) posted inflows of $555.86 million on Monday, according to data provider SoSoValue, amid signs of a possible bitcoin rally.

This is a multi-month record for ETF inflows, as the last time the asset class posted higher inflows was on June 4, when it hit $886.75 million.

BTC is up 2.2% in the last 24 hours, according to CoinDesk Indices data, matching the CoinDesk 20, an index tracking the performance of the largest digital assets.

As CoinDesk reported earlier, one technical indicator called the “three-line break chart” shows Bitcoin could be on track to break past $73,000, signaling a return to an upward trend after months of back-and-forth price movement.

Prediction market traders have become more optimistic about BTC’s price potential in the last week. On Polymarket, the ‘yes’ side of a contract that asks if BTC will hit a new all-time high in 2024 is trading at 64% up 9 percentage points in the last week.

On Kalshi, bettors are giving a 46% chance that bitcoin’s price hits $75,000 this year, up 7 percentage points. Bitcoin hit an all-time high of over $71,000 in March of this year.

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The outflows snapped an eight-day winning streak as BTC lost as much as 6% amid an acute heightening of tensions in the Middle East.

Bitcoin (BTC) exchange-traded funds (ETFs) in the U.S. saw outflows of $242.6 million on Tuesday in their worst day since Sept. 3, according to data from SoSoValue.

The outflows snapped an eight-day streak of inflows as BTC lost as much as 6% amid an acute sharpening of tensions in the Middle East that saw Iran fire around 200 ballistic missiles at Israel on Tuesday. The strike followed Israel’s attacks on Hezbollah, designated a terror group by more than 60 jurisdictions including the U.S., European Union and Arab League, in Lebanon in recent weeks. Israeli Prime Minister Benjamin Netanyahu vowed to retaliate.

Bitcoin fell to a low of $60,300, erasing almost all of its gains since the U.S. Federal Reserve’s interest-rate cut last month, signaling an inauspicious start to “Uptober,” the community’s affectionate name for the calendar month that has historically seen the highest gains for BTC. The largest cryptocurrency has lost 2.6% since the start of the month, CoinDesk Indices data show.

Ether ETFs also suffered on Tuesday with outflows of $48.5 million, the worst day since Sept. 23.

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Data from SoSoValue shows that the total daily net inflow cracked $100 million for the second day in a row for the BTC ETFs amid global monetary easing. PLUS: Worldcoin is up double digits as World ID expands to more countries.

Bitcoin (BTC) traded above $63,000 for the first half of the Asian trading hours on Thursday, down 1.4%, but up 2% on-week as inflows into BTC exchange-traded funds (ETFs) remain positive.

Asian stocks surged higher amid reports that China is considering injecting up to 1 trillion yuan ($142 billion) of capital into its biggest state banks to increase their capacity to support the struggling economy.

This follows an easing decision from earlier in the week that saw The People’s Bank of China (PBOC) cutting the reserve requirement ratio for mainland banks by 50 basis points (bps) while also lowering the seven-day reverse repo rate – the interest rate at which a central bank borrows funds from commercial banks – by 20 bps to 1.5%.

Data from SoSoValue shows that the total daily net inflow cracked $100 million for the second day in a row for the BTC ETFs. This marks a five-day streak of positive net inflow for the funds.

That has flipped an indicator tracking 30-day net holdings among ETFs to positive for the first time in September, data from CryptoQuant shows, suggesting a rising trend of accumulation as opposed to sales.

Meanwhile, ether (ETH) is trading above $2,500, down 1.3% on-day and up 8% for the week. Data shows that spot ETH ETFs had daily net inflow of $43 million, marking a second day of positive net inflow.

In a recent note, Presto Research wrote that rising Ethereum gas fees, driven by an increase in network transactions, have coincided with ETH outperforming BTC following the Fed’s 50 basis points rate cut.

While on-chain yields remain below the three-month treasury bill, some investors are positioning for a potential recovery in total value locked (TVL), Presto Write. However, a broader capital migration may not happen until 2025.

Sam Altman-backed WorldCoin’s WLD jumped 14% in the past 24 hours to become one of the only gainers in the broader crypto market. The company on Wednesday said it had begun its verification services in Poland, Malaysia and Guatemala over the past week – onboarding more users and boosting the project’s fundamentals.

The rise came amid an executive shuffle at OpenAI – another Altman company – and a switch in the company’s status from a nonprofit to a for-profit benefit corporation. WLD tokens have historically tended to move on development at OpenAI as crypto traders may consider the two closely related.

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Net inflows on Monday were the highest since early June, data shows, with Blackrock’s BTC ETF taking on almost $190 million.

Spot bitcoin (BTC) exchange-traded funds (ETFs) recorded nearly $300 million in net inflows on Monday, marking their highest buying activity since early June when the cryptocurrency traded over $70,000.

SoSoValue data show that market leader BlackRock’s IBIT led buying activity with nearly $180 million in net inflows, followed by Fidelity’s FBTC. Grayscale’s GBTC—infamous for its outflows—recorded over $25 million in purchases.

ETFs offered by Invesco, Franklin Templeton, Valkyrie, WisdomTree and Hashdex showed no inflow or outflow activity.

Strong inflows come as bitcoin faces significant selling pressure from various sources, such as repayments tied to defunct crypto exchange Mt. Gox and a German government entity moving hundreds of millions worth of BTC to exchanges in the past month.

As such, some investors may be viewing the selling pressure as a buying opportunity, investment firm CoinShares said in a Monday report.

“Digital asset investment products saw inflows totaling US$441m, with recent price weakness prompted by Mt Gox and the German Government selling pressure likely being seen as a buying opportunity,” CoinShares said. “However, volumes in Exchange Traded Products (ETPs) remained relatively low at US$7.9 billion for the week, reflecting the typical seasonal pattern of lower volumes in the summer months.”

Traders largely expect July to be a generally bullish month for the crypto market as it has seen a medium return of 9% historically, with the trend expected to continue.

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Thursday marked the fifth straight day of net outflows for the U.S.-listed ETFs in their worst performance since mid April.

Spot bitcoin (BTC) exchange-traded funds (ETFs) listed in the U.S. recorded their fifth-straight day of outflows on Thursday, losing over $900 million so far this week.

Data tracked by SoSoValue shows that the 11 listed ETFs lost $140 million on Thursday, with $1.1 billion in trading volumes. Grayscale’s GBTC – which has mostly seen outflows since its conversion to an ETF in January – led outflows at $53 million followed by Fidelity’s FBTC at $51 million.

BlackRock’s IBIT, the biggest ETF by assets held, was the only product that recorded net inflows at $1 million. Other products saw zero net inflow or outflow activity.

Such outflow activity is the worst since late April, which saw $1.2 billion in total net outflows in trading sessions from April 24 to May 2. Inflows since picked up and saw the products add more than $4 billion in the next 19 days of trading – before the ongoing outflow deluge started on June 10.

BTC prices have generally suffered in the past few weeks amid $1 billion in sales from large holders, dollar strength and a strong U.S. technology index market.

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In January, Harvest Global Investments, a major asset-management company in China, purportedly became the first to apply for a spot-bitcoin exchange-traded fund (ETF) with the SFC.

Asset manager VSFG, together with its partner, Value Partners, have applied for a spot-bitcoin exchange-traded fund (ETF) with Hong Kong’s Securities and Futures Commission (SFC), VSFG’s Head of Investment and Products Brian Chan told CoinDesk on Wednesday.

Earlier this week, a report from Bloomberg Intelligence said the SFC is likely to allow in-kind creations and redemptions for spot bitcoin ETFs in the second quarter of this year.

In December 2023, less than two weeks after nearly a dozen applicants won approval for spot bitcoin ETFs in the U.S., Hong Kong regulators said they were ready to consider applications for spot crypto ETFs.

In January, Harvest Global Investments, a major asset-management company in China, purportedly became the first to apply for a spot bitcoin exchange-traded fund (ETF) with the SFC. As many as 10 financial institutions have planned to apply to launch bitcoin ETFs in Hong Kong, local reports have previously said.

Hong Kong firm Venture Smart Financial Holdings has also said it will file a spot bitcoin ETF application, according to Bloomberg.

Hong Kong’s regulators have been attempting to loosen their grip on crypto in an attempt to become a global hub for the sector.

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The filings indicate that the two entities were among the prospective issuers that the U.S. Securities and Exchange Commission (SEC) sent comments in the past 24 hours.

BlackRock (BLK) and VanEck, the two firms among 13 hoping to launch bitcoin (BTC) exchange-traded funds (ETFs) in the U.S., have filed updated documents on Tuesday.

The filings indicate that the two entities were among the prospective issuers that the U.S. Securities and Exchange Commission (SEC) sent comments in the past 24 hours. CoinDesk reported earlier that the SEC sent comments to a set of prospective issuers of the spot-bitcoin ETFs just hours after the companies filed documents detailing fees for their proposed products on Monday.

Among the changes in the latest updated filing on Tuesday is wording that seeks to mitigate damage to shareholders in the event of insolvency and avoid a conflict of interest between the ETF’s authorized participants.

The latest filing shows an almost unprecedented engagement between the SEC and prospective issuers, with filings following SEC responses and then updated filings within a span of 24 hours.

The SEC is widely expected to approve all the applications this week as it faces a Jan. 10, 2024 deadline – i.e. this Wednesday – for one of the applications by Ark and 21 Shares and may want to approve all together in the spirit of fairness.

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