Bitcoin ETFs See Pickup in Demand — Market Talk

Bitcoin exchange-traded funds are seeing improved demand after recent capital outflows, Deus X Pay director James Madden says. Spot bitcoin ETFs from Fidelity and BlackRock have broken their outflow streak, bringing in $219 million in daily inflows, he says. "This shift reflects a renewed interest in bitcoin, demonstrating that these funds are gaining traction after a challenging period," Madden says. The influx of capital into these ETFs signals confidence in bitcoin's long-term potential and reinforces the narrow of institutional adoption of cryptocurrencies, he says. Bitcoin rises 0.7% to $113,225, recovering after hitting a nearly seven-week low of $108,829 Tuesday, LSEG data show. However, it remains well below the record high of $124,480 reached on August 14.(renae.dyer@wsj.com)