Wall Street’s bitcoin binge isn’t slowing down—mainstream money keeps pouring into crypto’s gateway drug.
The streak continues: Nine consecutive days of net inflows for U.S. spot Bitcoin ETFs, with $403 million fresh capital deployed this week alone. Traders are voting with their wallets despite SEC chair side-eye and Jamie Dimon’s annual anti-crypto sermon.
What’s driving it? Institutional FOMO meets shrinking supply—the halving squeeze is real, and even boomer portfolios want exposure. Meanwhile, gold ETFs weep quietly in the corner.
The bottom line: When Wall Street’s fee-hungry machine embraces an asset class, you get both validation and grotesque irony. Bitcoin’s anti-establishment roots? Meet your new overlords: BlackRock and friends.
Notable Outflows Hit Grayscale, Fidelity, and Ark Bitcoin Funds
However, the gains were partially offset by outflows from three funds: Grayscale’s GBTC lost $41.22 million, Fidelity’s FBTC saw $23 million exit, and Ark & 21Shares’ ARKB dropped by $6.21 million.
Spot bitcoin ETFs have now amassed a cumulative total of $53.07 billion in net inflows, with $4.4 billion added over the past nine trading days alone.
The surge builds on a strong run that began in April, during which these funds have drawn nearly $17 billion.
Ethereum spot ETFs have followed suit, marking their eighth straight day of net inflows, with $192.33 million added on Tuesday.
Bitcoin currently trades at $117,373, holding steady NEAR a key support level despite pulling back from a recent all-time high of $123,000 set earlier this week.
“Bitcoin has been able to maintain a solid position at around $118K after Core CPI data was lower than expected, prompting speculation that the Fed will be more likely to cut interest rates in September, potentially leading to a surge of demand for bitcoin,” said Nick Ruck, director of LVRG Research.
#BTC we’re back at $116K as planned. CPI drops in an hour. IMO we’ll either see a quick liquidity grab below or hold this level and push higher. pic.twitter.com/lSkgGcB2au
— Mind Over Market | by Llamito
Last week, US-based spot Bitcoin ETFs recorded over $1 billion in inflows for two straight days.
On Friday, 11 spot Bitcoin ETF products reported combined inflows totaling $1.03 billion, following $1.17 billion the previous day.
Recently, BlackRock reported earning more revenue from IBIT than from its flagship iShares CORE S&P 500 ETF.
95% Approval Chance for Spot Solana, XRP ETFS
As reported, Bloomberg’s senior ETF analysts have assigned a 95% chance that the SEC will approve spot ETFs for Solana, XRP, and Litecoin this year, raising their previous odds from 90% amid growing Optimism for institutional crypto products.
They also expect a crypto index ETF tracking multiple assets could gain approval as early as this week, signaling broader access to altcoins for traditional investors.
Beyond ETFs, institutional Bitcoin demand is spreading into corporate treasuries.
Japan’s Metaplanet recently bought $93 million worth of BTC, becoming the fifth-largest corporate holder with a stack exceeding 16,300 BTC.
France’s The Blockchain Group and the UK’s Smarter Web Company also made new BTC treasury allocations this week, purchasing $12.5 million and $24.3 million worth of Bitcoin respectively.
