Bitcoin Rockets Past $46,000 as ETFs Boost Investor Confidence Bitcoin (BTC) is on a meteoric rise, smashing through the $46,000 barrier and reaching its highest point in a month. The cryptocurrency's surge can be attributed to
steady inflows into US-based funds and the buzz surrounding April's
halving event. With a 7.3% gain over the past week, BTC is now trading at around $46,246.
The introduction of
new spot Bitcoin ETFs has sparked significant interest, with an impressive streak of
10 consecutive days of net inflows. This influx of capital has pushed the total to a staggering $8 billion this week, highlighting the
strong demand from investors.
Notably, two major players in the financial world have made their mark in the crypto space. BlackRock's iShares Bitcoin Trust (IBIT) secured the eighth spot on Morningstar's list with a whopping $2.6 billion in net flows, while Fidelity Wise Origin Bitcoin ETF (FBTC) claimed the tenth spot with $2.2 billion.
