Well, who would have thought that the U.S. spot Bitcoin exchange-traded funds (ETFs) would get a sudden jolt of enthusiasm, with over $1 billion in net inflows over the last two trading sessions? 🤩 It’s like the market decided to throw a surprise party for Bitcoin, and everyone was invited. And what’s the occasion, you ask? Oh, just a little trade deal President Donald Trump announced with an ASEAN member state. No big deal, right? 🙄
According to the data wizards at SoSoValue, the inflows started rolling in on July 2 with a cool $407.78 million, followed by an even more impressive $601.94 million on July 3. That’s the highest single-day inflow since May 23, just in case you were keeping track. 📊
But the real star of the show was Fidelity’s FBTC, which raked in a whopping $237.13 million, closely followed by BlackRock’s IBIT with $224.53 million. ARK 21Shares’ ARKB wasn’t too far behind with $114.25 million, while Bitwise’s BITB, Grayscale’s GBTC, and VanEck’s HODL collectively managed to pull in $26.03 million. The rest of the BTC ETFs? Well, they were probably out for a coffee break. ☕
Just a few days earlier, on July 1, the U.S. Senate passed Trump’s “Big Beautiful Bill,” a piece of legislation that, despite not mentioning crypto, managed to send the digital asset markets into a bit of a tizzy. But it seems the market has a short memory, and by the next two trading sessions, the inflows were back with a vengeance, ending a 15-day streak of inflows with a bang. 💥
Investor sentiment has been buoyed by the news of Trump’s new trade pact with Vietnam, which, in true Trump fashion, involves a 20% tariff on Vietnamese imports and a 40% levy on transshipped goods, while eliminating tariffs on U.S. exports to Vietnam. 🇻🇳🇺🇸 This move has apparently helped ease broader macroeconomic concerns and given a much-needed boost to risk assets across the board.
And if that wasn’t enough, Trump has been putting the pressure on Fed Chair Jerome Powell to lower interest rates, even going so far as to suggest he should resign. 🤦♂️ He’s even hinted at appointing a successor before Powell’s term ends in May 2026, with candidates like Scott Bessent, Kevin Warsh, or Christopher Waller, who are all in favor of aggressive rate cuts. It’s like a reality TV show, but with the economy as the prize. 🏆
The political pressure has had a noticeable effect on the U.S. dollar, which has been on a bit of a downward slide. As the dollar weakens, investors are turning to risk assets, including Bitcoin, in droves. The ETF inflows are a clear sign of this renewed interest. 📈
Looking ahead, the influx of institutional capital into Bitcoin ETFs could mean a very strong July for Bitcoin, potentially challenging its usual Q3 underperformance. Analysts are already predicting short-term targets between $117,000 and $135,000, with some even daring to dream of a $200,000 price tag by the end of the year. 🚀
As of press time, Bitcoin (BTC) was priced at $109,044, down about 1% over the past day. But hey, who’s counting? 🤷♀️
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2025-07-04 14:42