U.S. spot Bitcoin ETFs saw a daily net inflow of $799.4 million on July 16, marking a ten-day streak of institutional inflows and pushing cumulative inflows past $53.8 billion, as reported by SoSoValue. The surge comes during “Crypto Week” in Washington, with prices rising sharply.

BlackRock’s iShares Bitcoin Trust led with a $763.8 million daily inflow, boosting net assets to $86.7 billion. Ethereum ETFs also broke records with a $726.7 million single-day net inflow, raising total net assets to $16.4 billion.

Experts credit increased institutional interest, growing confidence in digital assets, and a demand for regulatory clarity for the surge. The ongoing legislative activity surrounding the proposed GENIUS Act aims to establish a clearer U.S. regulatory framework for digital assets.

Despite concerns about regulatory catch-up, the current ETF data shows strong momentum. Fidelity and Grayscale followed BlackRock in Bitcoin flows, while Ethereum ETFs by BlackRock and Grayscale led ETH-based activity with significant gains in price.

The industry is seeing a historic moment for Bitcoin and crypto during “Crypto Week.” European regulation has set a blueprint for balanced regulation that fosters innovation, but concerns remain about siloed regulation stifling on-chain finance.

To remain competitive, the U.S. must focus on enabling composability and interoperability with DeFi systems within the emerging tokenized treasury and RWA segments. Overall, the ETF data indicates a positive trajectory for the crypto market.

Read more at Yahoo Finance: Why Bitcoin And Ethereum ETFs Are Running Wild