European investors have allocated a record amount of capital to spot Bitcoin exchange-traded funds (ETFs) in the United States. Since the beginning of 2023, investments from Europe into spot Bitcoin ETFs have exceeded $105 billion, marking a new high.

Bloomberg senior ETF analyst Eric Balchunas shared these record flows in an Oct. 21 X post: “European local investor flows into US-focused ETFs have reached $105 billion so far. Why not? $SPY is up 24%, Europe is up 10%.”

These rising ETF inflows could push Bitcoin to a new high. Inflows into US Bitcoin ETFs accounted for about 75% of the new capital that helped Bitcoin surpass $50,000 in February 2024.

However, despite record European inflows, Bitcoin’s price has failed to break above the psychological $70,000 level. This is a developing story, and more information will be added as it becomes available.

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