Last week, many people wanted to invest in Bitcoin, and they put a lot of money into special investment funds called exchange-traded funds (ETFs). These funds help people buy shares that follow the price of Bitcoin without having to buy the coins themselves. A company called CoinShares reported that $3.12 billion was invested in these funds in just one week, which is a record.
The U.S. Securities and Exchange Commission approved these ETFs in January. Interest in digital assets, like Bitcoin, has grown a lot this year, with $37 billion being invested so far. This is much more than the $309 million that was invested in U.S. gold ETFs in their first year. Bitcoin is the most popular digital asset and reached a new all-time high of $99,645 last week.
Other digital assets, called altcoins, like Solana, also attracted investments. Former President Donald Trump’s election victory might have contributed to the increase in crypto investments, as he promised during his campaign to help the digital asset industry grow.
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<p>The post Insatiable Investor Appetite for Bitcoin Fuels Record Investments in Cryptocurrency first appeared on CoinBuzzFeed.</p>
