Spot Bitcoin ETFs pulled in $1.92 billion over five straight sessions of net inflows, their best week since October. Ether funds added nearly $700 million in the same stretch, a separate multi-month high.
Spot Bitcoin ETF inflows jumped after the US Treasury Department said it would double the size of its debt buyback operations. The funds tracking Ether also set a multi-month peak.
Spot Bitcoin ETFs attract $1.92 billion
The week opened calmly, with close to $300 million entering the funds on Monday and another $189.30 million on Tuesday. Inflows then accelerated on Wednesday after the Treasury Department announced it would raise the maximum size of its liquidity-support buybacks for longer-dated government debt from $2 billion to at least $4 billion per operation.
Net inflows into the spot Bitcoin ETFs reached $517 million that day and topped $606 million on Thursday, the best single-day total since May 1. Friday added another $307.45 million, closing out a week with net inflows on every single day and a total of $1.92 billion. As a result, cumulative inflows climbed from under $51.8 billion the previous week to over $53.7 billion by August 21.
Best week since a crash-driven surge in October
This marked the strongest week for net inflows since the one that ended October 10, when investors poured in $2.71 billion. That earlier surge followed one of Bitcoin's worst crashes, which triggered more than $19 billion in liquidations within 24 hours.
Bitcoin itself traded below $65,000 before the Treasury's announcement and then climbed by more than $15,000 to near $80,000 by Friday, a move that lined up with the surge in ETF demand.
Ethereum funds also post a multi-month high
Ether ETF inflows gained nearly $700 million over the same five days, a multi-month peak for those funds.
Source: CryptoPotato
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