In a noteworthy development, Bitcoin exchange-traded funds (ETFs) have attracted over $1 billion in new investment within a span of three days, contributing to a significant rise in the value of the leading cryptocurrency, which has approached the $73,000 mark.

On Wednesday alone, investors acquired more than $500 million worth of shares in ETFs managed by prominent firms such as BlackRock, Fidelity, and Grayscale, as reported by data from Farside Investors.

Bitcoin’s price experienced a substantial increase this week, reaching $72,659 on Thursday before experiencing a slight decline. The cryptocurrency was recently valued at $72,606, reflecting a 10% rise over a 24-hour period. Despite this growth, Bitcoin remains approximately 40% below its record high of $126,080 achieved in October.

On Wednesday, President Trump convened a meeting at the White House with influential crypto executives, including Coinbase CEO Brian Armstrong, along with key regulators such as Securities and Exchange Commission Chair Paul Atkins.

Following the meeting, the President characterized the Clarity Act as a “very, very powerful” piece of legislation and urged lawmakers to prioritize its passage.

The crypto market structure bill received approval from the House of Representatives last year; however, it has since faced significant delays. While some lawmakers had anticipated a vote in August, it has now been postponed to September.

The Clarity Act aims to provide much-needed regulatory clarity in the cryptocurrency industry by establishing a framework to accurately categorize digital assets as either securities, commodities, or payment stablecoins, an initiative that has long been advocated by crypto businesses.

A substantial portion of this week’s investment influx has been directed towards BlackRock’s iShares Bitcoin Trust, which has garnered $588.5 million in investments since Monday.

Other funds, including Morgan Stanley’s Bitcoin Trust, also witnessed significant trading activity. This surge in buying follows a period last week during which investors withdrew more than $385 million from U.S. funds amid escalating geopolitical tensions in the Middle East. Despite these redemptions, the price of Bitcoin remained largely stable.

Investor sentiment may be turning bullish, particularly following the Treasury Department’s announcement on Wednesday regarding a more than doubling of its government debt repurchase program.

The reduction in long-term yields diminishes the opportunity cost of holding non-yielding assets such as Bitcoin and gold, thereby fostering a risk-on sentiment. Both assets experienced notable gains as the dollar weakened in the aftermath of the announcement.

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