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Cryptocurrency: 75% of new Bitcoin investments are related to ETFs

According to a recent CryptoQuant report, spot ETFs, with the exception of the Grayscale fund, accounted for about 75% of Bitcoin investments in the past two weeks. Julio Moreno, head of research at CryptoQuant, believes that demand for spot ETFs has been the main driver behind the recent rise in bitcoin prices. Spot bitcoin ETFs have accumulated a total of 4,115 bitcoins worth approximately $253 million, according to Farside data.