Bitcoin ETF

Bitcoin

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<p>Eight Bitcoin exchange-traded funds (ETFs) have collectively <a href="https://twitter.com/lookonchain/status/1758530000901615950" rel="noopener noreferrer nofollow">added</a> 13,460 BTC, amounting to approximately $701.8 million, to their holdings in a single day, as reported by on-chain data provider Lookonchain.&nbsp;</p>
<p>This move contrasts with the decrease in holdings by Grayscale, which reduced its BTC position by 2,555 BTC, valued at $133 million.&nbsp;</p>
<p>Leading the charge in this influx were iShares (Blackrock) and Fidelity, adding 6,380 BTC ($332.7M) and 3,228 BTC ($168M) respectively, showing growing confidence and interest in cryptocurrency from traditional financial institutions.</p>
<h2 id="potential-impact-on-bitcoin-prices">Potential impact on Bitcoin prices</h2>
<p>According to CryptoQuant, a provider of on-chain data, the continuous inflow into spot Bitcoin ETFs could significantly influence Bitcoin's price trajectory.&nbsp;</p>
<p>The analysis suggests that if the current buying pressure persists, Bitcoin's price could potentially reach $112,000 this year.&nbsp;</p>
<p>The least optimistic scenario, as per CryptoQuant's CEO Ki Young Ju, would see BTC at least hitting $55,000.&nbsp;</p>
<p>This optimistic forecast is based on the effect of ETF inflows on Bitcoin’s market capitalization and a specific ratio that historically indicates whether prices are over or undervalued.</p>
<h2 id="outshining-traditional-investments">Outshining traditional investments</h2>
<p>Bitcoin ETFs are not just <a href="https://u.today/bitcoin-etfs-leaving-gold-in-the-dust" rel="noopener noreferrer nofollow">reshaping</a> the cryptocurrency landscape; they are also making a profound impact on traditional investment benchmarks, notably outperforming gold. The net cumulative flows for the ten leading Bitcoin ETFs have doubled in the past three days to over $3 billion, a milestone that took gold ETFs nearly two years to achieve.</p>
<p>This shift shows a growing preference among investors for digital currencies over traditional precious metals, with Bitcoin ETFs now considered a legitimate and increasingly popular asset class. The surge in Bitcoin ETF investments reflects a broader acceptance and enthusiasm for cryptocurrency, challenging gold's long-standing status as a safe-haven asset.</p>

Bitcoin ETFs See Major Influx of Fresh Funds

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