Bitcoin Hits New All-Time High Above $98,000 As Spot ETFs Crack $100 Billion Net Asset Value Milestone
Posted On November 21, 2024
As Bitcoin (CRYPTO: BTC) hit a new all-time high of $98,310 on Thursday morning during European trading hours, he total net asset value of U.S. Bitcoin spot exchange-traded funds (ETFs) has exceeded $100 billion, a milestone achieved in just 10 months since their launch in January.
What Happened: Over the past three days, Bitcoin spot ETFs have seen $1.84 billion in net inflows, reflecting strong investor confidence.
U.S.-based ETFs have contributed $29.4 billion in net flows this year, solidifying their role as a primary driver of capital into Bitcoin.
Nate Geraci, president of The ETF Store, highlighted on X the growing demand for spot ETFs and revealed that applications for funds linked to other …
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