Bitcoin ETF attracted 601.8 million USD in a single day, setting a new monthly high, with institutional funds pouring in.

Bitcoin exchange-traded funds (ETFs) recorded an astonishing $601.8 million net inflow on Thursday, marking the strongest single-day performance in over a month. This indicates that investors are actively pouring into crypto-related products amid a recovery in risk asset sentiment. The previous single-day inflow peak was $588.6 million on June 24.

Who is leading the capital inflow? According to data from Farside Investors, BlackRock's IBIT and Fidelity's FBTC were the absolute leaders in fund inflows on Thursday, attracting $224.5 million and $237.1 million, respectively. Other products saw smaller inflows: Ark Invest's ARKB increased by $114.2 million, while Grayscale's GBTC and Franklin Templeton's EZBC reported no net fund flows.

Institutions betting on policy easing, ETF becomes the preferred channel The influx of institutional capital stems from investors positioning themselves for anticipated changes in the policy environment—many expect that under the expanded policies of the Trump administration, financial conditions will tend to loosen. For institutions seeking large-scale Bitcoin spot exposure, the Bitcoin spot ETF remains the preferred tool, providing a regulated entry point and avoiding the operational challenges of directly holding Crypto Assets.

Peter Chung, the research director at Presto Labs, told Decrypt: "I believe that the expectation of more lenient liquidation conditions is driving the inflow of ETF funds. Risk-on trades seem to be increasingly recognized by the market, and for institutions, ETFs are the easiest way to gain exposure to Bitcoin spot."

Bitcoin price hovers around $109,000 As of the time of writing, according to Gate data, the Bitcoin price is fluctuating around $109,000, down 0.9% for the day. The market is digesting stronger-than-expected employment data. After the Thursday employment report (which showed 147,000 new jobs in June, far exceeding the expected 110,000), the BTC price briefly broke through $110,000, but the price retraced as the unemployment rate fell to 4.1% (expected 4.3%).

Chung added: "Indeed, last night's June employment data was hawkish, but this did not prevent the S&P 500 index from rising, indicating that the market is more willing to focus on the long-term fiscal expansion effects that the Trump tax plan may bring."

"The Grand Bill" is implemented, and the market is concerned about liquidity effects U.S. President Donald Trump will sign his "Big Beautiful Bill" into effect on Friday (July 4th, U.S. Independence Day), which has been passed by both houses of Congress. This bill, which includes tax cuts and an increase in the debt ceiling, has kept the crypto assets market on alert, with entrepreneur Arthur Hayes warning that as the Treasury replenishes its General Account (TGA), the bill could trigger a short-term liquidity drain.

Chung pointed out that ETF fund flow data typically lags by one or two days, so this $600 million inflow is likely reflecting activity from July 2, "which happened before the tax bill was passed," although some investors may have "bought into the ETF layout in advance, fully anticipating this situation."