Crypto Legislation Sparks Interest in U.S. BTC Spot ETFs
Legislation Driving Demand
With the CLARITY Act making strides on Capitol Hill, the impact of rising geopolitical tensions, equivalent to tariffs, was somewhat mitigated. This progress has fueled a surge in demand for BTC spot ETFs. In what’s being called ‘crypto week,’ each the Bitcoin and Crypto Market Structure Bill are expected to be discussed on the ground this coming week.
Crypto Week Agenda
Host of “Crypto in America” and journalist Eleanor Terrett shared some insights:
“For those curious about the GENIUS Act, it’s set to be part of Crypto Week. The House plans to put it to a full vote next week alongside the CLARITY and Anti-CBDC Surveillance State Act. Should GENIUS receive approval, it will proceed to President Trump for consideration, while CLARITY and Anti-CBDC are destined for the Senate.”
BTC Spot ETF Demand Soars
The push for clearer crypto regulations has definitely piqued interest in BTC spot ETFs. Farside Investors reported notable fund flows for the week ending July 11:
- The iShares Bitcoin Trust (IBIT) experienced a powerful net inflow of $1,759 million.
- The Fidelity Wise Origin Bitcoin Fund (FBTC) attracted $399.9 million in net inflows.
- The ARK 21Shares Bitcoin ETF (ARKB) garnered $339.1 million in net inflows.
In total, these inflows amounted to $2,717.5 million, marking the biggest since December 6 and the third highest since these ETFs launched in January 2024.
BlackRock and the Crypto Scene
BlackRock’s IBIT is making waves within the crypto news, securing the #2 spot in weekly inflow rankings. Meanwhile, BlackRock’s iShare Ethereum Trust (ETHA) also made a powerful showing, rating #6 with $675.14 million in inflows.
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