Bitcoin ETFs set for new wave of adoption as Marathon Digital sells portions of its mined coins

Marathon Digital sold a large portion of its Bitcoin mined in May. Franklin Templeton CEO Jenny Johnson says Bitcoin ETFs may receive a new wave of adoption. US spot Bitcoin ETFs saw the highest single-day inflows for the first time since March. Bitcoin hit $71,000 on Wednesday as Marathon Digital revealed it sold almost 63% of the coins it mined in May. Meanwhile, US spot Bitcoin ETFs continue to set new records.

In a report on Wednesday, short-selling company Kerrisdale Capital also blasted mining companies. "Bitcoin mining is easily among the worst business models for a public company we have ever encountered," they said. Read more:Veteran trader sets target for next Bitcoin bull market high Following this report, Franklin Templeton CEO Jenny Johnson stated that another wave of Bitcoin ETF adoption is coming.

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