Bitcoin ETFs On A Buying Spree, Scoop Up Nearly 300,000 BTC Since January
Summary
Regulated spot Bitcoin ETFs in the US have seen increased inflows, with institutions now controlling 9% of the total Bitcoin supply. ETFs have accumulated nearly 300,000 BTC since SEC approval in January 2023. Despite recent price fluctuations, bullish sentiment towards Bitcoin is growing, with expectations of reaching the $70,000 milestone. However, failure to close above the $64,200 mark could pose challenges for its near-term price action. BTC is currently trading at $62,830, showing a 1.6% increase in the last 30 days.
