The soaring price of Bitcoin (BTC) reaching a new all-time high above $72,000 is the result of a record-breaking week of inflows into crypto exchange-traded products (ETPs). The staggering $2.7 billion in weekly inflows into crypto investment products, as of March 8, has contributed to the total year-to-date inflows of $10.3 billion, almost matching the total inflows seen in 2021.摘要：ThepriceofBitcoin(BTC)hassurgedtoreachnewall-timehighsabove$72,000,followingarecord-breakingweekofinflowsintocryptoexchange-tradedproducts(ETPs)...
The majority of these inflows are attributed to Bitcoin, which has seen $2.6 billion in inflows year-to-date, representing 14% of the total crypto-related assets under management (AUM) worldwide. This surge in inflows has also led to the price of Bitcoin rallying to a new all-time high of $72,900 on March 11, with the asset currently trading around $72,000.
The influx of investments into recently-approved spot Bitcoin ETFs in the United States has significantly propelled the inflows into crypto ETPs. The five U.S. spot Bitcoin ETFs now hold over $2 billion AUM, with the most recent addition being Bitwises BITB fund.
Analysts predict that Bitcoins price could push toward $80,000 in the coming months, and the increasing regulatory acceptance of crypto assets, coupled with the London Stock Exchange's acceptance of Bitcoin and Ether exchange-traded notes, indicate a broader acceptance and institutionalization of cryptocurrencies.
Mikkel Morch, the founder of digital asset investment fund ARK36, sees this regulatory shift and other factors like the upcoming halving event and continued growth of Bitcoin ETF inflows as heralding a new era of growth and mainstream adoption for cryptocurrencies. These developments are likely to sustain the rally and foster a more robust and diversified investment landscape for digital assets.
