Bitcoin Tops $77,000 as ETF Inflows, Clarity Act, and Japan Fuel Rally

Bitcoin surged to its best week in more than two years on Friday, fueled by a convergence of macro policy shifts, record institutional inflows, and fresh regulatory momentum. Bloomberg reported that the original cryptocurrency climbed as much as 4.2% to $75,740 during Asian trading hours and has advanced nearly 20% this week, a gain that would be its largest weekly increase since March 2024 if sustained. The broader crypto market cap hit $2.56T, up 4.1% in 24 hours, with total trading volume reaching $128.74B.

A key driver of the move was U.S. Treasury Secretary Scott Bessent's announcement to double bond buybacks, which reignited fears of fiscal dominance and sent investors toward hard assets. President Donald Trump met with industry leaders and urged the Senate to pass the Clarity Act, a stalled crypto market structure bill. Analysts at Bitget Research said that if the Clarity Act makes progress, it could boost investor confidence and spark a broader recovery in digital assets.

Spot ETFs Post Biggest Daily Inflow Since May

On the institutional side, CoinDesk reported that spot Bitcoin ETFs drew $606M on August 20, the largest single-day inflow since May 1, while Ethereum funds pulled in an additional $221M, together confirming a strong institutional bid behind the rally. Bitcoin topped $77,000 during Friday trading, posting a 24% gain since Monday and pulling altcoins higher alongside it. Strategy, the corporate Bitcoin treasury firm, saw its common stock rise 10% in Friday pre-market trading to $120, its highest level in two months, as it sat on $1.4B in profit on its holdings.

Separately, CoinDesk also reported that Nomura-backed Laser Digital became the first new crypto asset exchange service provider registered in Japan in four years. The firm will initially provide liquidity services to domestic virtual-asset service providers, with institutional trading to follow. Japan recently reclassified cryptocurrencies as financial instruments, paving the way for potential crypto ETFs and a new tax treatment regime taking effect in 2027. A 2026 survey by Nomura and Laser Digital found that 79% of respondents planned to invest in crypto assets within the next three years, underscoring the depth of demand that Laser Digital is now positioned to serve.