Bitcoin has surged 2.9% in the last 24 hours, reaching a high of $71,166 on Binance today, marking the highest price since May 21. This rally appears to be primarily fueled by robust inflows into US spot Bitcoin ETFs, with the sector experiencing its 16th consecutive day of net inflows. Why Is The Bitcoin Price Up Today? Yesterday alone, these ETFs saw an inflow of $886.6 million, with Fidelity leading at $378.7 million—setting a new record for the fund. BlackRock wasn’t far behind, with substantial inflows totaling $274.4 million. Other significant contributions included Ark with $138.7 million, Bitwise at $61 million, and the Grayscale Bitcoin and VanEck Bitcoin Trust recording $28.2 million and $4 million respectively. Good morning fellow hodlers, We had an absolute insane day of inflows yesterday with $886.6 million of inflows (that’s ~12 500 BTC) Fidelity did $378.7 million, Blackrock did $274.4 million, Ark did $138.7 million and Bitwise 61 million. Even $GBTC had inflows worth of $28.2… pic.twitter.com/KaDdmTrq9p — WhalePanda (@WhalePanda) June 5, 2024 The sustained interest is further evidenced as BlackRock’s iShares Bitcoin ETF surpassed $20 billion in assets, becoming the fastest ETF to reach this milesto ..
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