Bitcoin Spot ETFs Transforming Crypto Market Dynamics
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Merely eight weeks following their launch on January 11 in the United States, the highly anticipated spot Bitcoin ETFs are already exerting a significant impact on the dynamics of cryptocurrency markets.
Introduced by prominent financial institutions such as BlackRock Inc. and Fidelity Investments, these ETFs have captured approximately $10 billion in net inflows, concurrently driving the valuation of Bitcoin to unprecedented peaks. The digital currency recently achieved a new milestone, surging past $72,900 for the first time on a Tuesday, before retracting to the $70,000 region.
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