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Bitcoin ETFs draw nearly $1B in new inflows over six days
Bitcoin last traded near $65,860, up 1% over seven days, after ETFs led by BlackRock, Morgan Stanley, and Grayscale pulled in more than $930 million since Tuesday.
Bitcoin exchange-traded funds have attracted nearly $1 billion in fresh inflows from US investors over the past six days, helping the price of the top cryptocurrency rise again, according to Bitcoin Magazine citing data from Farside Investors.
The publication said Bitcoin was trading near $65,860, slightly lower on the day but up 1% across a seven day stretch, with the asset reaching a weekly high of $66,891.
Funds managed by BlackRock, Morgan Stanley, and Grayscale accounted for more than $930 million of the inflows during the six day streak, the outlet reported.
Bitcoin remains roughly 50% below its October record of $126,080, and Bitcoin Magazine noted analysts are cautious as markets weigh inflation and renewed concerns tied to the US war with Iran, while CoinShares previously argued Bitcoin may be close to a floor with limited upside from current levels.
Latest closeBitcoin $65,749.44 ▼1.1%