In early trade on Saturday, Bitcoin was trading over 5% higher at $42,003. Also, as per reports, over $4 billion of funds have flowed into the new spot bitcoin ETFs, particularly to products operated by BlackRock and Fidelity.
Artificial intelligence (AI) startup RagaAI, gaming-focused platform Stan, edtech startup Analytics Jobs and investment platform OpiGo secured early-stage funding, the companies said on Tuesday.
RagaAI
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Bitcoin fell 3.2% to $41,381 in early trading on Friday, while Ethereum fell 2.5% to $2,467. "The market is witnessing an unexpected downward trend as BTC faces selling pressure due to heavy outflows from ETPs to new spot ETF issuers," said Shivam Thakral, CEO of BuyUcoin.
On the contrary, market participants believe that Bitcoin ETFs may not make sense for retail investors. Such instruments are usually opted by institutions for passive exposure.
Moreover, trying to invest in a Bitcoin ETF through a US-based brokerage house won’t be the most efficient route to get exposure to the best Bitcoin prices, as it will have a lot of tax implications