![](https://public.bnbstatic.com/image/pgc/202408/4501019d6193756c8dc1f4e909fb51bf.jpg)
Bitcoin’s value soared to a high of $62,745 on Thursday evening, fueled by significant capital inflows into exchange-traded funds (ETFs).
Bitcoin ETFs saw a record $194.6 million in inflows on Thursday alone, the largest amount in two weeks of trading. BlackRock’s iShares Bitcoin Trust (IBIT) led the charge, with $157.6 million in inflows, followed by the WisdomTree Bitcoin Fund (BTCW) with $118.5 million.
New England Retirement Plan Invests in Bitcoin ETF
While other ETFs received large inflows, the Grayscale Bitcoin Trust (GBTC) saw a significant outflow of $182.9 million. This contrast shows that the market sentiment is volatile but ultimately bullish for Bitcoin.
The trading week got off to a rocky start as ETFs recorded a collective outflow of $168.4 million on Monday. Another $148.6 million was withdrawn from these funds on Tuesday. With the losses earlier in the week, the total net outflow from Monday to Thursday was still $77.3 million.
Institutional interest in Bitcoin is growing, especially from pension funds. Traditionally, these funds have followed strict risk management principles and have been conservative in their investment strategies. However, this conservative approach appears to be changing.
For example, the New England Retirement Plan invested $249,429 in GBTC, purchasing 4,685 shares, as disclosed in the company's latest FORM 13F report with the U.S. Securities and Exchange Commission (SEC).
Similarly, in July, the Michigan State Retirement System announced a $6.6 million investment through the ARK 21Shares ARKB spot Bitcoin ETF. Jersey City Mayor Steven Fulop also announced plans to invest the city’s pension fund in Bitcoin spot ETFs in July. Mayor Fulop’s decision reflects growing confidence in the long-term viability of Bitcoin and the potential of its underlying technology.
In May, the State of Wisconsin Investment Board (SWIB) also made headlines when it purchased $99 million worth of BlackRock’s Bitcoin ETF, specifically the iShares Bitcoin Trust (IBIT). The decision fits into a broader trend of traditional financial institutions starting to include cryptocurrencies in their investment strategies.
Bitcoin's price trajectory reflects its characteristic volatility. From a low of nearly $49,000 on Monday, Bitcoin made an impressive recovery to peak on Thursday, up nearly 28%. However, the price has since corrected to around $60,909.
Often seen as a downside, enthusiasts see Bitcoin's volatility as a sign of dynamic potential. MicroStrategy co-founder Michael Saylor has compared it to energetic natural phenomena.
“Bitcoin is volatile, but volatility is a signal of high energy. Rivers, waterfalls, and fire are all volatile; but they contain energy that we can harness. This digital asset is attracting a huge amount of capital, which is driving its outperformance,” Saylor said.
Source: https://tintucbitcoin.com/bitcoin-dat-62k-khi-quy-huu-tri-dau-tu-vao-etf/
Read more cryptocurrency market news at: https://tintucbitcoin.com
👍 Follow @TinTucBitcoin coin 🔥 Like 🔥 Comment 🔥 Share 🔥 Thank you so much 💯💯