Posted 3/6/2024, 10:24:45 PM
Bitcoin Soars to New Highs as ETF Mania Brings Billions in Fresh Investments
- SEC approved 10 spot Bitcoin ETFs in 2024, allowing major asset managers like BlackRock to offer Bitcoin exposure to mainstream investors
- ETFs have brought new money and attention to Bitcoin, propelling it to an all-time high near $70K
- BlackRock's ETF saw a single-day record inflow of $788M on March 5, forcing it to buy over 11K Bitcoins
- Total inflows across all 10 Bitcoin ETFs topped $10B for the first time on March 5
- Analysts debate whether ETF inflow momentum can continue long-term or if it's tied to the upcoming Bitcoin halving
