Spot Bitcoin Exchange Trading Funds or ETFs sent another strong state as inflow surged to record levels.
Investors have added $ 2.7 billion to Bitcoin (BTC) ETFs, and have increased the largest share since the addition of $ 3.6 billion since April.
The fund has now entered the six consecutive weeks, and from the beginning, the cumulative inflow has entered $ 44.5 billion. They all have $ 130 billion in assets, equivalent to 6.24%of Bitcoin evaluation.
ISHARES BITCOIN ETF, the market sign, has received $ 48 billion in cumulative inflow and currently has more than $ 71 billion. Next, FIDELITY’s FBTC and GrayScale are $ 21.7 billion. The other large funds are from ARK Invest, Bitwise and Vaneck.
Interestingly, the 16 -month -old IBIT has been following the SPDR Gold Shares ETF since 2004. GLD ETF has a $ 4.9 billion inflow this year, raising its total assets to $ 100 billion. Therefore, if the trend continues, it means that the Ibit ETF will reverse the GLD in the next few months or in the next few months.
Bitcoin ETFs can pass gold over the next few years. According to the World Gold Council, global assets that manage gold ETFs have increased to more than $ 340 billion due to price repayment.
Bitcoin has been a strong rise this year. On Wednesday, it jumped with almost $ 112,000 record. On Friday, President Donald Trump retreated to $ 107,500 after President Donald Trump threatened 50%of tariffs on European products and 25 percent of Apple products.
Analysts are optimistic that Bitcoin prices can have more space as supply and demand epidemiology help. The demand for ETFs and companies continues to increase, and the supply of the exchange continues to fall. The difficulty of mining also increases, reducing the number of coins in the market.
Ark Invest Analysts is expected to increase the price of BTC to $ 2.4 million by the end of 10 years, while Standard Chartered is expected to record $ 200,000 this year.