Bitcoin ETF Demand Grows Among U.S. Investors as China Considers Massive $142B Capital Injection
Bitcoin (BTC) traded above $63,000, down 1.4% but up 2% for the week, with positive inflows into BTC exchange-traded funds (ETFs). Asian stocks rose as China considers injecting up to 1 trillion yuan into state banks to support its economy. The People's Bank of China cut the reserve requirement ratio by 50 basis points and lowered the seven-day reverse repo rate to 1.5%. BTC ETFs saw daily net inflows exceeding $100 million for two consecutive days, indicating a positive trend in accumulation. Ether (ETH) traded above $2,500, down 1.3% on the day but up 8% for the week, with spot ETH ETFs recording a $43 million net inflow. Rising Ethereum gas fees have coincided with ETH outperforming BTC. WorldCoin’s WLD rose 14% after launching verification services in Poland, Malaysia, and Guatemala, amid executive changes at OpenAI.
