Bitcoin ETF $1.61B Inflows Meet $183B Treasury Auction

U.S. spot Bitcoin exchange-traded funds recorded $1.61 billion in net inflows across four trading days from Aug. 17 through Aug. 20, according to Farside Investors. Reported daily inflows were $297.5 million on Aug. 17, $189.3 million on Aug. 18, $517.2 million on Aug. 19 and $606.3 million on Aug. 20. BlackRock’s IBIT accounted for about $503 million of the Aug. 20 total. Bitcoin traded near $77,800 on Aug. 21, up roughly 7% over the prior 24 hours.

On Aug. 20 the Treasury reopened the February 2056 Treasury Inflation-Protected Security, leaving about 29 years and six months to maturity. The reopening cleared at a 2.973% real yield, compared with 2.473% at the security’s original issue in February. Bid-to-cover for the reopening rose to 2.82 from 2.75, and indirect bidders received 84.4% of accepted competitive awards.

The Treasury calendar lists $69 billion of two-year notes for Aug. 25, $70 billion of five-year notes for Aug. 26 and $44 billion of seven-year notes for Aug. 27, with all three auctions due to settle on Aug. 31. The combined $183 billion is gross issuance; auction demand, reinvestment flows and settlement timing will determine net market effects. Treasury buyback operations around the same dates set maximums of $4 billion for certain coupon maturities and differ by eligible securities and settlement dates.

ETF flow figures are end-of-day fund reports and do not disclose the exact timing, venue or price of each underlying Bitcoin purchase. Market snapshots taken around the TIPS reopening showed the nominal 10-year Treasury yield near 4.69%, the 30-year inflation-indexed yield about 2.972% and the U.S. Dollar Index near 98.75. Auction results and subsequent fund filings will record how investor demand allocated between ETFs and Treasury securities during the settlement period.