Bitcoin ETFs Attract $1.19 Billion as Prices Soar to Record Highs
Bitcoin ETFs are experiencing a remarkable surge, with net inflows reaching $1.19 billion on October 6, largely due to BlackRock's iShares Bitcoin Trust. This surge signals a major interest from institutional investors, as the cumulative total for US-based spot Bitcoin ETFs now approaches $60 billion.
Bitcoin's price has also soared, recently hitting a record high of $125,600, driven by significant purchases from Wall Street through these ETFs. The robust performance of the BlackRock ETF illustrates a shift of liquidity from less regulated platforms to established US products.
With the price momentum suggesting potential consolidation, many are optimistic about Bitcoin's trajectory, speculating that it could soon reach the $150,000 mark. This period marks a pivotal moment in the cryptocurrency landscape, highlighting the growing acceptance and demand for Bitcoin as a digital asset.
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