Crypto’s Gone Barmy!

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It appears the usually staid world of high finance has finally gone utterly, completely, and totally bonkers for Bitcoin 🤯. A mere 18 months after they first launched, spot Bitcoin ETFs have attracted a whopping $50 billion in net inflows. We’re not talking about your average Joe here; no, these are the big players, the ones with more money than sense, piling in with all the finesse of a troll at a buffet 🍴.

A Cool $218 Million in a Day, Because Why Not?

On July 9, these ETFs raked in a tidy $218 million, marking the fifth consecutive day of gains. According to the folks at SoSoValue, that brings the total to nearly $1.52 billion over the past five trading days. We’re not sure what’s more astonishing, the sheer amount of cash or the fact that someone, somewhere, is actually keeping track of it all 🤓.

BlackRock: The 800-Pound Gorilla in the Room

BlackRock’s iShares Bitcoin Trust (IBIT) is the undisputed champion, holding a staggering 700,000 BTC, a whopping 55% of all Bitcoin held in U.S. spot ETFs. The fund has attracted a mind-boggling $53 billion in net inflows, leaving Fidelity’s FBTC in the dust with a paltry $12.29 billion. Meanwhile, Grayscale’s GBTC continues to hemorrhage cash, losing a mere $23.34 billion since its conversion. No big deal, just a minor flesh wound 🤕.

IBIT has become BlackRock’s third-largest revenue-generating ETF, surpassing some of its more traditional products, because who needs boring old stocks when you can have shiny new Bitcoin? 🤑 According to Nate Geraci of NovaDius Wealth Management:

The nearly $75bil iShares Bitcoin ETF has only one month of outflows since Jan 2024 launch…

Now generates more fee revenue for BlackRock than its largest ETF, the iShares S&P 500 ETF.

Simply a machine.

I offer a few thoughts here.

via @isabelletanlee

— Nate Geraci (@NateGeraci) July 3, 2025

Altcoins: The Next Big Thing (Again)

Bloomberg analysts are predicting a 95% chance that the SEC will approve spot ETFs for Solana, XRP, and Litecoin this year, because why not? 🤷‍♂️ A broader crypto index ETF could also be on the horizon, offering more access to altcoins for traditional investors. Meanwhile, Ethereum ETFs pulled in a respectable $211 million in a single day, pushing their total net inflows to nearly $5 billion. It seems the appetite for crypto exposure is insatiable 🤤.

Institutions: The Smart Money (Allegedly)

Crypto analyst Rachael Lucas claims this isn’t your typical retail hype cycle. Nope, this time it’s the big boys and girls, the asset managers, corporate treasuries, and wealth platforms, moving in with all the stealth of a herd of elephants 🐘. The consistency of inflows across recent months suggests that Bitcoin is being taken seriously as a long-term investment, because who needs fundamentals when you have FOMO? 😂

Lucas attributes the surge to global tensions and Trump’s push for rate cuts, making Bitcoin more attractive than a Kardashian at a selfie convention 🤳. The timing is different now, apparently, because ETFs make it easier and safer to invest, just like buying stocks, but with more excitement and less actual value 🎢.

Corporate Treasuries: The New Crypto Playground

Companies are also getting in on the action. Japan’s Metaplanet added a cool $237 million in BTC to its treasury, while other firms in France and the UK made multi-million-dollar purchases, because who needs actual profits when you can have crypto? 🤑 Tokyo-listed Remixpoint raised $215 million to buy 3,000 BTC, because why not? 🤷‍♂️

Meanwhile, Bitcoin hit an all-time high of $112,000, and Ether surged 6.6% to $2,778, with analysts eyeing a breakout past $3,000, because the only way is up, right? 🚀

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2025-07-10 15:09