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Bitcoin Flirts With Winning Run as ETFs Debut With Record Inflows

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Bitcoin,Winning Run,Etfs

Bitcoin is experiencing a winning streak, supported by the record-breaking debut of US exchange-traded funds for the token. The digital asset is on track for its seventh consecutive daily gain, the longest streak since January 2023. Nine new spot Bitcoin funds have attracted over $9 billion of investor inflows since their launch on January 11. Two of the offerings, from BlackRock Inc. and Fidelity Investments, have become the most successful ETFs based on assets garnered after a month on the market.

Bitcoin is flirting with a winning run last seen a year ago, aided by the record-breaking debut of US exchange-traded funds for the token. The digital asset rose about 1% to US$48,436 as of 9.50am Monday in Singapore, poised for a seventh straight daily gain that would mark the longest such streak since January 2023 if the advance holds, data compiled by Bloomberg show. Nine new spot Bitcoin funds began trading in the US on Jan.

11 and have attracted more than US$9 billion of investor inflows so far. Two of the offerings, from BlackRock Inc. and Fidelity Investments, rank as the most successful ETFs launched based on assets garnered after a month on the market, Bloomberg Intelligence analysts Eric Balchunas and James Seyffart wrote in a not

 

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Strong Investor Interest in New US Bitcoin ETFsInvestors have poured $1.9 billion into nine new exchange-traded funds tracking the spot price of bitcoin in their first three days of trading. It is unclear if they will be able to maintain the pace of inflows in the coming weeks.
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