Bitcoin ETFs post strongest weekly inflows in 10 months as price jumps 23%

Spot Bitcoin exchange-traded funds recorded their strongest weekly inflow in 10 months, drawing a net $1.92 billion last week as Bitcoin surged about 23%, its biggest weekly gain in over three years, trading near $77,000 Monday. The rally was initially driven by US plans to increase buybacks of long-dated bonds to lower yields, then amplified by a short squeeze. BlackRock’s iShares Bitcoin Trust contributed $1.3 billion of the inflows, with net inflows seen every trading day. The weekly inflows were the largest since Bitcoin crashed from a record above $126,000 on Oct. 6, entering a "crypto winter." This follows nearly $390 million of outflows the prior week, though $2.9 billion has been drained from ETFs this year.