Bitcoin ETFs Gain $1B Amid Election Excitement

Bitcoin is enjoying a major surge in institutional interest just days ahead of the U.S. presidential election, with nearly $1 billion pouring into Bitcoin ETFs last week alone.

What’s the scoop?

• The Pulse: Bitcoin’s price continues to hover around the $69,000 mark, just ~6% of its all-time price high of $73,737.
• The Context: Former President Donald Trump, currently leading in some polls, has vowed support for digital assets if reelected, adding momentum to bullish sentiments around BTC.
• First of a Kind: Also in the news today, Emory University just became the first endowment to publicly disclose a Bitcoin ETF holding, reporting a $15.8 million investment in the Grayscale Bitcoin Mini Trust.
• The Big Picture: Every major institution type—from pension funds to family offices—is now represented among Bitcoin ETF holders. Eric Balchunas, a senior ETF analyst for Bloomberg, compared this achievement to “winning all four tennis grand slams before your 16th birthday.”

Bankless Take:

The rapid rise of Bitcoin ETFs reflects a watershed moment for crypto. Plus, the likes of Emory University diving in marks a cultural shift and signals to other institutions that Bitcoin can be a viable part of long-term portfolios. With political tailwinds and expanding institutional buy-in, Bitcoin’s position as a mainstream asset class looks more solid than ever.