The 12 spot Bitcoin ETFs in the United States had their best day in four months, achieving $555.86 million in inflows. This, adding to the words of a market guru in favor of cryptocurrency, boosted the syubas.
Bitcoin threatens to break the $68,000 barrier after record inflows to ETFs
Bitcoin threatens to break the barrier of US$68,000 after climbing almost 3% in the last 24 hours. The excellent performance spreads to altcoins, with the main one, Ethereum, posting a 2% rise to US$2,650.
Solarium It also scales and approaches US$160 per token. Other alternative cuties like Cardano, Avalanche and Ppolkadot add to the positive note. This happens in a context in which the 12 BTC spot ETFs in the United States present their best day in four months, achieving $555.86 million in inflows. In turn, the nine Ether ETFs also experienced a good start to the week, reaching $17.07 million in positive flows.
Income boom for Bitcoin ETFs
On Monday, BTC ETFs achieved their highest inflows since June, totaling $555.86 million. Fidelity’s FBTC fund led with $239.25 million, followed by Bitwise’s BITB with $100.2 million and BlackRock’s IBIT with $79.51 million. Other notable funds included ARKB, GBTC, HODL, EZBC, and Grayscale’s Bitcoin Mini Trust.
Bitcoin’s rise also comes after Larry Fink, CEO of BlackRock, the world’s largest asset manager, has stated that Bitcoin is a legitimate investment option, comparing it to gold. This happened during the third quarter 2024 earnings call held on Friday, Fink spoke about the possible expansion of the Bitcoin market despite regulatory hurdles.
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Fink was optimistic about the future growth of Bitcoin, stating that the continued advancement of cryptocurrencies and blockchain technology will have a significant impact on global finance. Reiterating his belief in the legitimacy of Bitcoin as an investment, the BlackRock CEO said asset utilization would increasingly become a global reality. He added: “We believe bitcoin is an asset class in itself. It is an alternative to other commodities like gold.”
Source: Ambito
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