Loading cryptocurrency prices...

Bitcoin Spot ETFs See $522M Inflow, Crypto Rally Defies Shutdown Fears

Major cryptocurrencies posted gains despite the risk of a U.S. government shutdown.

  • Bitcoin spot ETFs recorded $521.95 million in net inflows, the largest since September 12.
  • Ethereum spot ETFs saw over $546 million in net inflows, the highest since August 14.
  • MicroStrategy acquired 196 more Bitcoins, increasing its holdings to over 640,000 coins.
  • Vanguard Group Inc. is considering allowing cryptocurrency ETF trading on its platform.

Bitcoin and other leading cryptocurrencies advanced in early Tuesday trading, building on positive momentum from significant inflows into spot exchange-traded funds (ETFs) on Monday. The activity took place as investors monitored the potential for a U.S. government shutdown.

- Advertisement -

According to SoSoValue data, Bitcoin spot ETFs saw net inflows of $521.95 million on Monday, marking the biggest single-day addition since September 12. Ethereum spot ETFs experienced even larger inflows, with more than $546 million—the strongest figure since August 14. As of the time of reporting, Bitcoin was up 2.1% to $113,958, Ethereum gained 2.4% to $4,193, and XRP rose 0.9% to $2.89. Solana and BNB were also higher, up 1.2% and 1.7%, respectively.

MicroStrategy, led by Michael Saylor, announced in a securities filing it had purchased 196 Bitcoins for $22.1 million at an average price of $113,048 per coin. With the latest acquisition, the company now holds more than 640,000 Bitcoins—about 3% of all Bitcoins in circulation. Industry analysts note that other corporations have begun creating crypto treasuries, inspired by MicroStrategy‘s approach.

Despite gains in the crypto market, investors remained cautious as a U.S. government shutdown could occur if Congress does not reach a funding agreement by Wednesday. According to U.S. Vice President JD Vance, “I think we’re headed to a shutdown because the Democrats won’t do the right thing,” referring to ongoing disputes over healthcare subsidies in stopgap funding measures.

Financial experts warned of likely volatility in the coming days. Investor Ted Pillows stated on social media, “Expect volatility to stay high in the coming days. The odds of a government shutdown stand around 65%–75%, unless lawmakers manage a last-minute deal.” He advised keeping leverage modest and avoiding excessive exposure.

- Advertisement -

There is also concern among investors that a government shutdown could delay the release of September jobs data. If employment figures are weaker than expected, it could raise the chances of more interest rate cuts by the Federal Reserve, which tends to support crypto and stock markets.

Separately, a Bloomberg News report indicated that Vanguard Group Inc. is reviewing its policy on cryptocurrency-focused ETFs and may soon allow their trading on its platform. This would signal a departure from the company’s previous restrictive stance on digital assets.

Previous Articles:

- Advertisement -

Latest News

Clear Street Prepares $10B-$12B Crypto IPO Led by Goldman Sachs

Clear Street, a New York brokerage, plans a public offering with a valuation between...

BRICS Expands Gold Pact to 33 Nations, Boosts Dollar-Free Trade

The BRICS Gold pact now includes 33 countries aiming to trade precious metals independently...

Bitcoin Treasury Firms Face “Darwinian Phase” Amid Market Downturn

Bitcoin treasury companies face structural challenges as equity prices drop below Bitcoin net asset...

Shiba Inu Whale Withdraws 169B SHIB from Coinbase Sparking Speculation

A whale withdrew 169.13 billion SHIB tokens from Coinbase in six transfers over 17...

Crypto Firms Raise $16M for Hong Kong Tai Po Fire Relief Efforts

Over 30 cryptocurrency firms and fundraising groups have contributed about $16 million to Hong...
- Advertisement -

Must Read

8 Best Bitcoin Offshore Hosting Providers

In this blog post, we'll list the top 8 best bitcoin offshore hosting providers that accept Bitcoin and other cryptocurrencies.As Bitcoin continues to grow...