Amid strong inflows into Bitcoin ETFs, BTC price hit a new two-year high of over $57,000 as its market cap breached $1.1 trillion.
The nine spot Bitcoin exchange-traded funds (ETFs) that started trading publicly on Jan. 11 have amassed 300,000 Bitcoin (BTC) worth $17 billion in less than two months of their public debut. The net inflow for spot Bitcoin ETFs surpassed $6 billion.
The BTC holdings of nine spot Bitcoin ETFs are nearly 1.5% of Bitcoin’s total supply of 21 million BTC. Amid a growing demand and limited supply, BTC price touched a new yearly high of over $57,000. Bitcoin is now only 20% down from its all-time high of nearly $69,000, and its market cap has breached $1.1 trillion.
Spot Bitcoin ETFs have continued their bullish momentum with more than half a billion dollars in net inflow on Monday. The nine-spot Bitcoin ETFs also recorded their highest trading volume day with $2.4 billion in trading volume, beating the prior record of $2.2 billion set on the first trading day, Jan. 11
