Bitcoin ETF Inflows Top Gold as U.S. Adds $2.65B – Trump’s Tax Package and Asia Rally Lift Market Sentiment
Crypto markets are seeing a decisive shift as Bitcoin (BTC) inflows swell, racking up $2.2 billion in fresh capital last week alone—accounting for a dominant 83% of all digital asset fund flows. The surge reflects a growing investor appetite for BTC-backed products, bolstered by intensifying global tensions and continued uncertainty over U.S. monetary policy.
According to CoinShares, overall inflows for H1 2024 hit $18.3 billion, driven largely by U.S. investors. In just one week, the U.S. accounted for $2.65 billion, far outpacing Europe’s modest additions: Switzerland added $23 million, Germany $19.8 million. Hong Kong saw net outflows of $132 million in June, indicating cautious sentiment following earlier price spikes.
Bitcoin ETFs Take the Lead Over Gold ETFs
Spot Bitcoin ETFs are drawing significantly more attention than gold. In a span of five days, Bitcoin ETFs saw inflows of $3 billion—contrasted by $1 billion in outflows from gold ETFs. This reversal hints at a macro rotation, as institutions and hedge seekers pivot toward digital stores of value.
Ethereum also posted solid numbers, pulling $429 million in weekly inflows to bring its yearly tally to $2.9 billion. Solana continues to lag behind with $91 million year-to-date, underlining a confidence gap.
Corporate Moves Reinforce Bullish Sentiment
Anthony Pompliano’s ProCap BTC added 3,724 BTC ($386M) in a bold move ahead of a planned SPAC merger, while Japan’s Metaplanet ignited headlines by raising $517.8M on Day 1 of its “555 Million Plan,” aiming to accumulate 210,000 BTC by 2027.
Trump’s Tax Bill and Asian Market Rally Push BTC Higher
Bitcoin’s price resurgence past $108,000 breaks the June lull as sentiment flipped bullish in early Asia trading. The rally was triggered by the advancement of former President Trump’s $4.5 trillion tax plan, now heading for a decisive Senate vote.
According to QCP Capital, leveraged long positions are building, with funding rates turning positive—a sign of growing confidence ahead of quarter-end. Traders appear to be chasing momentum as BTC positions stack up.
ETH and SOL also rallied amid growing buzz over REX Shares’ proposed staking ETFs, which could offer institutions passive crypto yield if approved by the SEC.
You might also like: Breaking ! Solana Price Today: 4 Sharp Signals Suggesting a Break Above $160
