BIT says $6.7 billion flowed into crypto market over 30 days

  • BIT said institutional funds entered crypto through Strategy, Bitcoin ETFs and new stablecoin issuance.
  • Over 30 days, $6.7 billion entered, versus $13 billion in June net outflows.
  • BIT said faster inflows are needed for Bitcoin's larger additional rally.

BIT, formerly Matrixport, said $6.7 billion in institutional funds entered the crypto market over the past 30 days through combined flows from Strategy, Bitcoin ETFs and new stablecoin issuance. That compares with $13 billion in net outflows in June and indicates a shift toward net buying and capital inflows. BIT said the improving trend is supporting a recent recovery in market sentiment and downside price support, but inflows must accelerate for Bitcoin to post a substantially larger additional rally.

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