Reported 6 months ago
Bitcoin exchange-traded funds (ETFs) in the US have experienced unprecedented net inflows for 18 consecutive days, pushing the cryptocurrency closer to its record high. These ETFs, including those from BlackRock Inc. and Fidelity Investments, have attracted $15.6 billion in new subscriptions, reaching a total of $62.3 billion since their January 11 launch. The surge in demand is fueled by expectations of Bitcoin surpassing its all-time high, with the Securities and Exchange Commission (SEC) allowing spot-Bitcoin ETFs in January and showing signs of approval for Ethereum funds. The growth in digital-asset funds indicates a positive trend towards crypto adoption among institutions and intermediaries, with Bitcoin's value quadrupling since last year and trading at around $71,100.
Source: YAHOO