Spot Bitcoin ETFs Record Third Day Of Massive Inflows As Price Tops $66,000
- US-based spot Bitcoin ETFs received $257.3 million in investments on Thursday, marking the third consecutive day of substantial inflows. - Grayscale Bitcoin Trust saw a $4.6 million positive inflow, while BlackRock received $93.7 million after a stagnant period. - Other ETF providers also experienced significant inflows, indicating renewed confidence in Bitcoin from various investor bases. - The sustained inflow trend across multiple providers underlines a collective bullish sentiment in the market. - A debate on transparency and potential market manipulation within the Bitcoin ETF ecosystem resurfaced, with concerns raised about off-chain recording of Bitcoin transactions by large institutions. - Regulatory guidelines require ETFs to hold full backing in spot Bitcoin for all settled shares, ensuring adherence to standards. - BTC traded at $66,109 at press time.
