Bitcoin Soars to New Highs as Investor Demand for Spot ETFs Skyrockets

BlackRock's Bitcoin ETF (IBIT) has accumulated nearly 200K BTC in less than 2 months, more than MicroStrategy's 193K BTC
IBIT seeing huge inflows, often adding hundreds of millions in BTC daily; it's the largest of the new spot ETF products besides GBTC
Grayscale's GBTC has lost over 200K BTC since the spot ETFs launched, but still holds around 400K BTC
Massive demand for new spot bitcoin ETFs is key reason for bitcoin's 60%+ price surge this year
Bitcoin hit an all-time high of $70,136 on Friday before dropping just under $70K; massive ETF inflows driving new highs