Bitcoin Rallies on Launch of New ETFs, Institutional Interest
• Bitcoin is on its longest winning streak in a year, aided by the successful launch of several Bitcoin ETFs which have attracted over $9 billion in inflows • Nine new Bitcoin spot funds began trading in the US on January 11, with two ranking among the most successful ETF launches based on assets gained • There are signs of increasing institutional investment flowing into Bitcoin and crypto more broadly • Optimism is growing around the upcoming Bitcoin "halving" event in April, which typically supports prices • Bitcoin remains below its all-time high from 2021, but recently crossed back above the $48,000 level on momentum from the ETF launches