TLDR
- US-based spot Bitcoin ETFs captured 506.5 million dollars during a single trading session, achieving the strongest performance since Feb. 2.
- Bitcoin climbed past the 68,000 dollar threshold, fueling renewed interest in ETF products.
- Seven-day capital flows totaled 560.4 million dollars, ending a five-week streak of withdrawals.
- BlackRock’s iShares Bitcoin Trust attracted 297.4 million dollars within 24 hours.
- Trading activity across ETF products exceeded 4.3 billion dollars, reaching levels last seen on Feb. 9.
U.S.-based spot Bitcoin funds experienced substantial capital inflows on Wednesday while Bitcoin climbed back above the $68,000 threshold. Investment products captured $506.5 million within a single trading session, representing the strongest daily performance since Feb. 2. The turnaround drove weekly inflows to $560.4 million and indicated a possible reversal following five consecutive weeks of capital withdrawals.
Bitcoin investment products achieve strongest daily performance since February
Bitcoin ETFs secured $506.5 million on Wednesday while Bitcoin reached $68,137. The capital influx represented the highest single-day total since Feb. 2, according to SoSoValue data. Seven-day inflows climbed to $560.4 million following two consecutive sessions of gains. Investment products had experienced five weeks of net withdrawals totaling $3.8 billion. The February downturn eliminated $20 billion in net assets held across various products.
BlackRock’s iShares Bitcoin Trust ETF captured the largest share of daily inflows at $297.4 million, based on Farside data. Bitwise Bitcoin ETF secured $39.4 million in additional capital. Fidelity Wise Origin Bitcoin Fund attracted $30.1 million throughout the trading session. ETF trading activity surged above $4.3 billion and achieved the strongest level since Feb. 9. The volume increase corresponded with Bitcoin’s advance beyond $68,000.
Industry discussions emerge regarding price formation mechanisms
The return of capital inflows sparked fresh discussions about ETF operational frameworks. Industry observers examined the function of authorized participants in share creation and redemption processes. Speculation spread across X following a recent lawsuit filed by Terraform Labs administrator Todd Snyder. Several posts suggested that Jane Street affected Bitcoin valuations through derivatives positions.
Bitwise adviser Jeff Park responded to these assertions in a post on X. “The answer is trickier than the question,” Park wrote on Wednesday. He continued, “The short answer is that no AP explicitly suppresses Bitcoin price.” Park explained that the structure can suppress the integrity of price discovery rather than the price itself. He stated, “Those are not the same thing—but the second is arguably more consequential than the first.”
Analysis has also highlighted concerns regarding “paper Bitcoin” trading patterns. The Kendall Report addressed similar matters in early February. The conversation intensified after South Korea’s Bithumb exchange distributed 620,000 BTC it did not hold. The event prompted additional questions about transparency within cryptocurrency markets. ETF volumes sustained levels above $4.3 billion while Bitcoin maintained positions near $68,000 on Wednesday.
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