US Bitcoin ETFs Witness Historic Inflows Amid CoreWeave Merger

By: Eva Baxter

In an exciting week for the cryptocurrency industry, record-breaking developments have sparked investor interest and spurred significant market movement. Core Scientific and CoreWeave have announced a monumental $9 billion merger, combining their operations to form one of the most formidable players in the mining sector. The merger is expected to enhance operational efficiency and strengthen their competitive positioning globally. This move marks a significant consolidation trend within the mining domain, highlighting the growing demand for scaled operations in a highly competitive environment.

Simultaneously, the Bitcoin ETF market in the United States saw unprecedented investment inflows. For the first time since their launch in January 2024, US-based spot Bitcoin ETFs recorded back-to-back inflow days exceeding $1 billion. On one day alone, the inflows reached $1.17 billion, followed by $1.03 billion the subsequent day. This remarkable event marks the second-largest day ever for Bitcoin ETFs, underscoring the mounting enthusiasm and investor confidence in this asset class. The inflows coincide with Bitcoin hitting new all-time highs this week, further fueling market optimism.

According to Nate Geraci, president of NovaDius Wealth Management, these consecutive billion-dollar inflow days highlight the accelerating interest from institutional investors and the growing acceptance of Bitcoin as a viable investment vehicle. Of note, only seven days have seen such high inflows since January, a clear indication of the strengthening market dynamics for Bitcoin ETFs. This influx of capital comes amid heightened expectations and speculation surrounding potential regulatory changes and approvals that could further open up the market.