$517 million — that's the largest net inflow into bitcoin spot ETFs in nearly three and a half months. The number itself is straightforward enough, but what's harder to parse is the trigger: an announcement from the U.S. Treasury Department that had nothing to do with crypto at all.
Analysts are attributing this wave of capital returning to the surprise crypto market rally sparked by the U.S. Treasury's announcement of expanded buyback operations. The buyback expansion was originally a technical move in the bond market, yet it left a clear mark on bitcoin spot ETF fund flows.
For now, publicly available information is limited to the total net inflow figure and analysts' attribution of the cause—the breakdown across individual funds and other details have yet to be disclosed.
