Bitcoin News Today: Bitcoin Surges Past $116,000 on ETF Inflows and Favorable Policy Moves

Bitcoin surged back above $116,000 on Friday, supported by renewed inflows into spot exchange-traded funds and a wave of favorable policy developments, including President Donald Trump’s executive actions and the resolution of the SEC’s case against Ripple. U.S. spot bitcoin ETFs recorded approximately $281 million in net inflows on Thursday, with BlackRock’s IBIT leading the charge, according to SoSoValue. This followed a modest inflow on Wednesday after four consecutive days of outflows. Similarly, ether spot ETFs added around $222 million on August 7, extending a multi-day trend [1].

Timothy Misir, Head of Research at BRN, noted that ETF inflows are tentatively returning, offering a structural support as short-term volatility subsides. “If Bitcoin is able to hold the $116,000 level over the next 48 hours, we could see another strong push toward $120,000 with ETH making another play for the $4,000 level,” he added [1].

Policy developments further lifted sentiment. President Trump signed an executive order encouraging the integration of digital assets into 401(k) plans, directing the Labor Department and the SEC to facilitate this process. Another executive order aimed at addressing “unfair debanking” of crypto-friendly firms could enhance mainstream access to regulated crypto products [1].

The SEC and Ripple reached an agreement to end their legal dispute by dropping their respective appeals, maintaining a prior court ruling that distinguished certain institutional XRP sales from programmatic ones. This resolution removes a long-standing overhang for Ripple and potentially clears a path for broader policy clarity in the U.S. crypto sector [1].

Options traders remain cautiously optimistic, with call demand rebuilding near $118,000 for bitcoin and $4,000 for ether, while downside hedges are still in place. Institutional investment in Ethereum treasuries has also accelerated, with holdings crossing $10 billion as entities like BitMine Immersion and SharpLink Gaming increase their positions [1].

On the macroeconomic front, the White House’s recent Federal Reserve Board nomination of Stephen Miran—a figure known for his crypto-friendly stance—adds another positive layer to the crypto market. His appointment is seen as a bullish signal, especially as expectations for a rate cut at the Federal Reserve’s September meeting continue to build [1].

Bitcoin traded around $116,600 while ether hovered above $3,900. XRP led major crypto gains with an 11% rise following the legal resolution, and the GMCI Index 30 rose 4%, indicating a broad uptrend in altcoins [1].

Source: [1] Crypto markets edge higher as ETF inflows return; policy updates and Ripple case closure add tailwinds (https://www.theblock.co/post/366147/crypto-markets-edge-higher-as-etf-inflows-return-policy-updates-and-ripple-case-closure-add-tailwinds?utm_source=rss&utm_medium=rss)