#precio of #bitcoin was triggered by "monstrous" inflows into ETFs: Investment funds based on the digital currency had their largest inflow of money since June.
One of the main factors behind the recent rise in the price of bitcoin (BTC) is the outstanding performance of the ETFs of this digital currency in the United States.
Yesterday, the funds reported net inflows totaling $555 million, the largest volume recorded since June 4.
This injection of capital led to the price of bitcoin going from $62,300 to $66,400 in just one day, although today the digital currency has retreated slightly to $65,373.
The capital was concentrated in 10 of the 11 bitcoin ETFs, which did not report net outflows. Fidelityâs Wise Origin Bitcoin Fund (FBTC) led the inflows with $239 million, followed closely by the Bitwise Bitcoin ETF (BITB), which attracted $100 million, according to data from SosoValue.
Meanwhile, the BlackRock-managed iShares Bitcoin Trust (IBIT), which is the largest bitcoin fund in terms of net assets, saw $79 million in inflows. Another notable fund, the ARK 21Shares Bitcoin ETF (ARKB), attracted nearly $70 million.
Finally, Grayscaleâs Grayscale Bitcoin Trust (GBTC) closed the day with more than $37 million in net inflows.
