U.S. spot bitcoin exchange-traded funds brought in $517.19 million on Wednesday, marking the largest daily total and strongest session for the products since May 4. According to SoSoValue data, eight of the 12 funds attracted fresh capital during the session, with combined net assets reaching $84.31 billion, or about 6.08% of Bitcoin's total market value.
BlackRock's IBIT led the group with $284.7 million in inflows, supplying roughly 55% of the day's total intake. ARK 21Shares' ARKB followed with $77.7 million, and Fidelity's FBTC added $62.4 million. The broad participation across multiple funds helped lift the cumulative total for U.S. spot bitcoin products to approximately $52.79 billion overall.
The strong inflow session accompanied a price rally that pushed Bitcoin above $69,000 for the first time in two months. Bitcoin traded near $69,514 after reaching an intraday high of $69,892, positioning the asset near its 200-day trend zone and the midpoint of a broader $60,000 to $80,000 trading range.
Market participants noted that the rally accelerated following a decision by the U.S. Treasury to expand planned liquidity-support buybacks for longer-dated nominal securities. The Treasury raised the maximum buyback cap from $2 billion to at least $4 billion per operation for the 10-to-30-year sectors, effective from September 9 through November 4. The announcement coincided with falling long-dated yields, a weaker U.S. dollar, and broader gains across risk assets.
Additional regulatory developments also emerged as the U.S. Securities and Exchange Commission proposed two tailored exemptions for certain crypto investment contracts, allowing offerings of up to $5 million over four years or up to $75 million per 12-month period subject to specific disclosures. Meanwhile, analysts point out that Bitcoin faces immediate technical tests near its daily moving average and exponential moving average regions as market volatility remains elevated.
