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Billion-Dollar Bitcoin Bonanza: Cash Floods In Despite Global Chaos!

In a jaw-dropping twist amid escalating tensions between Israel and Iran, Bitcoin is proving to be the superhero of the financial world! On Wednesday, U.S. spot Bitcoin exchange-traded funds (ETFs) raked in a staggering $388.3 million in inflows, marking an electrifying eight straight days of fresh cash pouring into the market!

BlackRock and Fidelity Strike Gold!

The financial titans are at it again! BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) led the charge, bringing in a mind-blowing $278.9 million and $104.4 million, respectively. These giants are clearly unshaken by geopolitical turmoil!

Bitcoin Holds Strong: $105K and Counting!

Even as market panic surged from the Israel-Iran conflict, Bitcoin (BTC) has defied odds, staying buoyant in the $105,000 range! Crypto analytics platform Santiment reveals that this resilience mirrors Bitcoin’s previous reactions during global crises.

“Despite the storm, Bitcoin has held its ground, following the familiar ‘risk-off, then stabilize’ routine,” Santiment noted.

Grayscale Goes Down in Flames!

But it’s not all sunshine and rainbows! Grayscale is drowning in red ink, with their Bitcoin Trust ETF (GBTC) bleeding $16.4 million and their low-fee Grayscale Bitcoin Mini Trust losing another $10.1 million! Talk about a financial horror show!

Crypto Cash Surge: A Record-Breaking Spree!

While Grayscale sinks, Bitcoin ETFs are on fire! Since April 17, a jaw-dropping $11.2 billion has flooded into these funds! With only eight days of outflows recorded, Bitcoin’s price has skyrocketed from below $85,000 to a sizzling $104,950!

And it’s not just a flash in the pan—more than $46.3 billion has poured into 11 Bitcoin products, with BlackRock leading the pack at $50.6 billion!

Ethereum Shows Its Grit!

Don’t sleep on Ether! After a short break, the U.S. spot Ether (ETH) ETFs roared back with a 19-day inflow streak, regaining momentum with over $19.1 million on Wednesday alone! BlackRock’s Ethereum Trust ETF (ETHA) is leading the charge with consistent inflows that haven’t faltered since May!

The Future Looks Bright for Crypto!

As the Securities and Exchange Commission’s Crypto Task Force opens doors for collaboration, the landscape for Ether ETFs with staking features looks more promising than ever!

All eyes are on this thrilling showdown of capital in the crypto realm. Will Bitcoin maintain its reign, or will Grayscale’s troubles turn the tide? Stay tuned for the next jaw-dropping chapter in the cryptocurrency saga!