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Bitcoin Hits New All-Time High Above $98,000 As Spot ETFs Crack $100 Billion Net Asset Value Milestone
The US bitcoin ETF assets have surpassed 100 billion dollars.
As the price of bitcoin continues to hit new highs, approaching the 0.1 million dollar mark, the total assets of the directly invested bitcoin exchange-traded funds (etf) in the usa have surpassed 100 billion dollars. Twelve bitcoin etfs, including products from blackrock and fidelity investments, reached this milestone just 10 months after their listing in January of this year, making it one of the most successful fund categories ever issued. Data shows that as bitcoin reached a record high, they recorded a net inflow of 0.773 billion dollars on Wednesday. On Thursday, bitcoin briefly rose by 3.6%, reaching a record 97,892 dollars since November 5.
Bitcoin broke through $97,500 and approaching $0.1 million?
On November 21, bitcoin continued to surge, breaking through $97,500, currently priced at $97,525.79 per coin. The sharp rise in bitcoin prices is primarily attributed to the large inflow of funds as financial giants like blackrock not only incorporated bitcoin into their balance sheets but also launched bitcoin exchange-traded funds (ETFs), attracting a record inflow of $2.6 billion shortly after the USA elections. J.D. Seraphine, CEO of the AI verification platform based on cryptos, Raiinmaker, stated in an interview, "Large financial institutions like blackrock have already taken bitcoin into account."
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