New US spot Bitcoin exchange-traded funds are shaking up the market for the original cryptocurrency after widening demand for the token and attracting more than $7 billion of net inflows in less than two months.
The most visible change is a surge of over 45% in the price of the largest digital asset this year to about $63,000, bringing the pandemic-era record high of almost $69,000 into view. A looming reduction in Bitcoin’s supply growth, called the halving, has also stoked the rally.
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