Bitcoin surges to Record High; Crypto ETF demand(Mar-05, 2024)
Bitcoin Surges to record high; Crypto ETF demand Bitcoin reaches new all-time high as halving nears... Bitcoin ETF volumes surge Bitcoin price rises above $69,000 (2024-03-05) With trading volumes in Bitcoin spot ETFs surging, it appears that demand for Bitcoin ETFs is starting to drive the price of Bitcoin. Currently, Bitcoin ETFs have seen an estimated $7 billion in inflows since their launch, with bullish sentiment likely driven by the halving effect (a reduction in Bitcoin supply). The overall market value of digital assets, including bitcoin, has risen to around $2.6 trillion. BTC/USD: stockcharts.com Given the high volatility of the Bitcoin price, please apply this to your investments. Bitcoin is classified as an ultra-high-risk asset, meaning it is highly volatile. Bitcoin price has returned over +50% year-to-date (YTD, 2 months and 5 days). Bitcoin-related ETFs listed on U.S. exchanges can be summarized as follows; (GBTC) Grayscale Bitcoin Trust ETF (IBIT) iShares Bitcoin Trust