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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-etfs-attract-significant-investments" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin ETFs Attract Significant Investments</a><br></p>
<p style="text-align: justify">On May 20th, the market for spot <a href="https://en.bitcoinhaber.net/bitcoin-breaks-through-50000-as-etf-influx-signals-investor-confidence" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs experienced a surge, with more than $237 million flowing into eleven different funds. This influx coincided with a 7% increase in Bitcoin’s price, pushing it to $72,000. Investor sentiment was further fueled by promising <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">news</a> regarding the potential approval of a spot Ethereum ETF. This backdrop set a positive tone for the week in cryptocurrency investments.</p>
<h2 id="what-drives-investor-interest">What Drives Investor Interest?</h2>
<p style="text-align: justify">According to Farside Investors, spot Bitcoin ETFs saw a substantial net inflow of $241 million on May 20th. Grayscale’s ETF GBTC, despite the resignation of its CEO Michael Sonnenshein, received $9.35 million in a single day. This marks the fifth consecutive day of net inflows for GBTC, highlighting a sustained investor interest. Other ETFs also saw significant inflows, with Ark Invest and 21Shares’ ARKB attracting $68.28 million and BlackRock’s IBIT drawing in $66.35 million.</p>
<h2 id="how-does-this-compare-to-bitcoin-mining">How Does This Compare to Bitcoin Mining?</h2>
<p style="text-align: justify">An interesting observation is that the daily inflows into spot Bitcoin ETFs on May 20th far exceeded the daily BTC supply generated through mining. The ETFs received investments equivalent to over 3,400 BTC, while daily mining production stood at just 450 BTC. This influx contributed to a total net inflow of $235 million into spot Bitcoin ETFs in the USA on the same day, amounting to 3,518 BTC. This figure surpasses the weekly mining production of 3,150 BTC reported by HODL15Capital. Additionally, spot Bitcoin ETFs in Hong Kong also showed strong buying activity, indicating a growing global interest.</p>
<h2 id="key-insights-for-investors">Key Insights for Investors</h2>
<p style="text-align: justify"><strong>Valuable Points for Investors</strong></p>
<p style="text-align: justify">– Spot Bitcoin ETFs received $237 million in a single day.<br> – The price of Bitcoin surged by 7%, reaching $72,000.<br> – Net inflows into ETFs outpaced daily Bitcoin mining production.<br> – Global interest in Bitcoin investment products is on the rise.<br> – Bitcoin’s price targets are projected to reach up to $149,000 by late 2024.</p>
<h2 id="future-projections">Future Projections</h2>
<p style="text-align: justify">Crypto analyst CryptoCon has made bold projections based on Log Regression Curves, which have historically predicted the peaks of previous cycles. According to CryptoCon, Bitcoin might hit a price target of $149,000 by the end of 2024. However, a more conservative target suggests Bitcoin could achieve $108,000 by the end of this year, aligning with the peak of the 2013 cycle’s 6th layer target. These forecasts provide <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="external">investors</a> with potential price milestones to consider as they navigate the volatile landscape of cryptocurrency investments.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-etfs-attract-significant-investments" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin ETFs Attract Significant Investments</a></h5>

Bitcoin ETFs Attract Significant Investments

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