Bitcoin exchange-traded funds have absorbed more than $1 billion in new capital over the past three days, helping push the leading cryptocurrency to nearly $73,000.
On Wednesday alone, investors purchased over $500 million in shares across funds managed by BlackRock, Fidelity, and Grayscale, according to data from Farside Investors.
Bitcoin’s price has rallied sharply this week, reaching $72,659 on Thursday before settling slightly lower. Trading around $72,606, this represents a 10% gain over 24 hours. Despite the recent surge, Bitcoin remains approximately 40% below its October all-time high of $126,080.
President Trump met with crypto executives including Coinbase CEO Brian Armstrong and regulators such as Securities and Exchange Commission Chair Paul Atkins at the White House on Wednesday.
Following the meeting, the president described the Clarity Act as “very, very powerful” legislation and encouraged Congress to advance its passage.
While the crypto market structure bill cleared the House of Representatives last year, it has stalled in the current session. Lawmakers initially targeted an August vote, but proceedings are now expected in September.
Crypto firms have long advocated for regulatory clarity, and the Clarity Act seeks to establish definitive frameworks for classifying digital assets as securities, commodities, or payment stablecoins.
Leading the week’s inflows, BlackRock’s iShares Bitcoin Trust captured $588.5 million since Monday alone.
Other vehicles, including Morgan Stanley’s Bitcoin Trust, also saw notable activity. This recent buying wave follows last week’s $385 million outflow from U.S. funds amid renewed Middle East tensions. Despite those redemptions, prices largely held steady.
Investor optimism may be tied to the Treasury Department’s announcement on Wednesday that it plans to more than double the scale of its government debt repurchases.
Reduced long-term yields lower the opportunity cost of holding non-yielding assets like Bitcoin and gold, typically supporting risk-on sentiment. Both assets rose alongside weakening dollar following the announcement.
