In brief
- Bitcoin ETFs saw $601.8 million in inflows on Thursday, the biggest single-day total in over a month, with BlackRock’s IBIT and Fidelity’s FBTC leading the surge.
- The inflows come as markets position for Trump’s upcoming tax and spending package, with some analysts warning of short-term liquidity pressures once the bill is signed.
- Bitcoin briefly topped $110,000 Thursday, and is currently trading around $108,900.
Bitcoin exchange-traded funds notched $601.8 million in inflows on Thursday, their strongest showing in over a month, as investors piled into crypto products amid renewed optimism in risk assets.
The massive influx represents the strongest single-day performance for Bitcoin ETFs in over a month, with the previous high-water mark reaching $588.6 million on June 24.
BlackRock’s IBIT and Fidelity’s FBTC accounted for the bulk of Thursday’s activity, bringing in $224.5 million and $237.1 million, respectively, according to Farside Investors data.
Other products saw smaller inflows, with Ark Invest’s ARKB adding $114.2 million, while Grayscale’s GBTC and Franklin Templeton’s EZBC reported no net flows.
Investors anticipate “looser liquidation conditions”
The flood of institutional money comes as investors position themselves for what many expect will be looser financial conditions under expanded Trump administration policies.
ETFs remain the primary vehicle for large-scale Bitcoin exposure, offering regulated access without the operational headaches of direct crypto ownership.
“I think what’s driving the ETF flow is the expectation of looser liquidation conditions,” Peter Chung, head of research at Presto Labs, told Decrypt. “It seems risk-on trade is increasingly gaining traction, and for institutions, ETFs are the easiest way to access the Bitcoin exposure.”
Bitcoin hovers around $109,000
Bitcoin wavered around $109,000 at press time per CoinGecko, down 0.9% as markets digested stronger-than-expected employment data.
The price of Bitcoin briefly topped $110,000 following Thursday’s jobs report, which showed 147,000 new positions in June against 110,000 forecasts, before retreating as unemployment fell to 4.1% instead of the expected 4.3%.
“Granted, June jobs data last night were hawkish, but it didn’t stop S&P 500 from rallying, implying the market is willing to focus more on the longer-term impact of fiscal expansion resulting from Trump’s tax bill,” Chung said.
U.S. President Donald Trump prepares to sign his “Big Beautiful Bill” into law on Friday, Independence Day, after the legislation passed both chambers of Congress.
The tax-cutting, debt ceiling-raising bill has crypto markets on edge, with entrepreneur Arthur Hayes warning it could trigger a temporary liquidity drain as the Treasury refills its General Account.
Chung noted that ETF flow data typically lags by a day or two, saying the $600 million figure likely reflects July 2 activity, “before the tax bill passage,” though some investors may have been “buying ETF fully expecting this in advance.”
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