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Add this eye-popping statistic to the list of superlatives driving crypto’s latest boom cycle: A record $520 million stampeded into BlackRock Inc.’s Bitcoin ETF in a single day.
Cryptocurrency News: Bitcoin retook the $57,000 level for the first time since late 2021, supported by investor demand through exchange-traded funds as well as further purchases by MicroStrategy Inc.
(Bloomberg) -- The world’s biggest Bitcoin ETF has reached an inauspicious milestone: an entire month of consecutive outflows. Most Read from BloombergA Spike in Heart Disease Deaths Since Covid Is Puzzling ScientistsBYD’s New $233,450 EV Supercar to Rival Ferrari, LamborghiniFreddie Mercury’s London Residence Lists at £30 MillionShein Considers London IPO After US Resistance to ListingThe $24.2 billion Grayscale Bitcoin Trust (ticker GBTC) has seen $7.4 billion exit across 31 trading days as of
Spot bitcoin ETFs could offer investors looking to hedge against inflation an alternative to gold. ETFs track an index, commodities, bonds or a basket of assets like an index fund.
At 11:30 p.m., Bitcoin was trading 0.5% lower at $51,229, while Ethereum was up 0.9% at $2,958. Meanwhile, the global cryptocurrency market cap fell 0.25% to around $1.95 trillion in the last 24 hours.