Spot bitcoin ETFs report $517 million in net inflows, largest in 3.5 months

JUST IN: Spot bitcoin ETFs draw $517 million in net inflows, the largest in 3.5 months, as $BTC surges 8.6% to nearly $70,000 on a surprise crypto market rally.

Half a billion dollars walked into bitcoin ETFs in one day. Five hundred and seventeen million in net inflows, the biggest haul in three and a half months.

And the timing isn't a mystery. Bitcoin ripped eight point six percent to nearly seventy thousand dollars in a rally almost nobody saw coming. When the price moves like that, the ETF money follows, and this time it followed fast.

That's the part I'd sit with. This isn't crypto natives on offshore exchanges, this is money moving through regulated funds on Wall Street, retirement accounts and advisers included. Three and a half months of hesitation, gone in a single session.

The flows chase the price, and the price feeds on the flows. Five hundred and seventeen million says the big money just stopped waiting.

This is Liu Yang, reporting for HIT.

Source Read the original reporting at theblock.co