On Thursday, U.S. spot Bitcoin (BTC) Exchange-Traded Funds (ETFs) recorded a significant net cash inflow of approximately $588.22 million. This was the highest daily total since the start of the week. As a result, U.S. spot BTC ETFs have now seen a total net cash inflow of around $40.18 billion since they were approved under the previous SEC administration led by former chair Gary Gensler.
Interestingly, none of the U.S. spot BTC ETF issuers saw net cash outflows on Thursday. BlackRock’s IBIT and Fidelity’s FBTC were the top performers, each attracting about $321 million and $209 million in inflows, respectively. This brings the total net assets of U.S. spot Bitcoin ETFs to approximately $123.43 billion.
Bitcoin Demand Stands Strong
Bitcoin demand has remained strong, driven in part by the growing involvement of global central banks. Beyond directly purchasing Bitcoin, many central banks are also investing in Bitcoin-related stocks, such as MicroStrategy and Metaplanet.
In the U.S., 15 states have introduced bills aimed at creating strategic Bitcoin reserves, with Texas, Florida, Massachusetts, Ohio, and South Dakota leading the charge. Meanwhile, the Trump administration is quickly advancing plans for a national Bitcoin stockpile to protect against the rapidly rising national debt, which has now surpassed $35 trillion.
Can Bitcoin Becomes as Popular as Gold?
After gold prices hit a new all-time high in the past 24 hours, Bitcoin appears to be well-positioned to follow this trend in the near future. In fact, many global investors now view Bitcoin as a better long-term store of value than gold, further boosting its appeal.
