Bitcoin ETFs Drive Inflows of $8 Billion, Pushing Bitcoin to Highest Point in Two Years
According to Bloomberg, investment in exchange-traded funds (ETFs) backing bitcoin has reached new heights, with $8 billion pouring into offerings from firms like BlackRock and Fidelity. This influx of funds has pushed the price of bitcoin to its highest point in two years, currently sitting at $47,000. The surge in investment comes after the US government announced in January that ETFs could start investing in bitcoin. Despite a recent hack of the US Securities and Exchange Commission’s website, which led to some investors pulling out of their holdings, many others have moved their money to the new bitcoin ETFs.
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