U.S. spot bitcoin exchange-traded funds recorded $517.19 million in net inflows on Wednesday, their largest single-day total since May 4, according to data from SoSoValue. Eight of the 12 funds posted positive flows, led by BlackRock's iShares Bitcoin Trust (IBIT) with $284.7 million. Ark & 21Shares' ARKB added $77.7 million and Fidelity's FBTC attracted $62.4 million.
The surge coincided with bitcoin climbing above $69,000 for the first time in two months and ether reclaiming $2,000. Analysts attributed the inflows to the U.S. Treasury Department's announcement that it will at least double buyback operations for longer-dated nominal coupon securities across the 10- to 30-year segment, and to an SEC proposal creating exemptions for crypto investment contracts. BTSE COO Jeff Mei said the Treasury step softened the dollar and returned risk appetite, while BTC Markets analyst Rachael Lucas described renewed institutional positioning rather than retail FOMO.
At the same time, Hashdex confirmed the liquidation of its $14.7 million Hashdex Bitcoin ETF, traded under the DEFI ticker. The fund stopped trading on NYSE Arca on Aug. 17 and ended creation orders the same day. Hashdex said DEFI's net assets relative to operating expenses made it unreasonable to continue. Remaining shareholders are due a cash distribution on or about Aug. 28, reflecting closing costs and bitcoin price moves during liquidation. The closure applies only to DEFI; Hashdex continues managing more than $200 million in U.S. products.
Elsewhere, Hyperliquid's HYPE token was among the day's top gainers after President Donald Trump said CFTC Chair Michael Selig is working to bring the perpetuals-focused platform into the U.S. in a compliant manner. The broader crypto market rose about 8% over 24 hours.
