- February 29, 2024
- Posted by: legaleseblogger
- Category: Related News
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New US Spot Bitcoin Exchange-Traded Funds Impact on Market
The introduction of new US spot Bitcoin exchange-traded funds has created significant changes in the market for the original cryptocurrency. This move has led to a surge in demand for the token, resulting in more than $7 billion of net inflows within a span of less than two months.
The most prominent effect of this development is seen in the price of the largest digital asset, which has seen a remarkable increase of over 45% this year, reaching approximately $63,000. This surge brings the pandemic-era record high of almost $69,000 within reach. Additionally, the upcoming halving of Bitcoin’s supply growth has further fueled the rally.
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