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Bitcoin ETF Holders Back in Profit as Price Surges Towards $87,000, Reaching $86,837 Earlier Monday
Bloomberg ETF analyst James Seyffart noted that Bitcoin exchange-traded fund holders are now in profit for the first time since January, as the cryptocurrency's rally on Monday morning pushed the average investor above the estimated ETF cost basis. Bitcoin recently traded near $86,772, after hitting an intraday high of $86,837. This surge occurred despite the Clarity Act crypto legislation being blocked last week and the Federal Reserve raising interest rates. U.S. Bitcoin ETFs, managed by firms like BlackRock, Fidelity, Grayscale, and Morgan Stanley, saw net positive flows of over $6 million last week, with investors pouring nearly $593 million into these products on Thursday and Friday. The total assets under management for these ETFs now stand at $98.7 billion.
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Source：Bitcoin Magazine · Source Link
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