Institutional interest in cryptocurrency is surging, as evidenced by nearly $1 billion in inflows into U.S. spot Bitcoin ETFs, coinciding with Bitcoin’s resurgence above the $80,000 mark. This spike marks one of the strongest single-day performances for the ETF sector recently, reflecting a significant uptick in investor sentiment and institutional accumulation of Bitcoin through regulated investment vehicles. April had already seen impressive inflows of $1.97 billion, indicating a robust trend in crypto investment.

In a related development, Andreessen Horowitz’s crypto venture arm has raised $2 billion for a new fund targeting blockchain infrastructure, Web3 applications, and decentralized finance projects. This move signals a potential recovery in venture capital activity within the crypto space, despite overall funding levels remaining below 2021 highs.

The Tennessee Bankers Association’s selection of Stablecore as its preferred digital asset infrastructure provider further underscores the growing integration of crypto services among traditional financial institutions. This partnership allows approximately 175 banks to access advanced blockchain payment tools, highlighting the increasing acceptance of digital assets in mainstream banking.

Source: cointelegraph.com