US Bitcoin ETFs recorded their highest daily inflow since inception, with $870 million invested on Tuesday. This surge in investment comes as Bitcoin approaches its all-time high of $73,700, originally reached in March. The increased investment is believed to be driven by speculation surrounding a potential victory for Donald Trump in the US presidential election, which many believe could create a more positive environment for the cryptocurrency industry. Bloomberg data shows that the year-to-date inflows for Bitcoin ETFs now exceed $23 billion. Analysts attribute the growing demand for Bitcoin exposure to Trump's elevated odds in election betting markets. The surge in investment in Bitcoin ETFs has led experts to predict that these funds could reach 1 million BTC in holdings as early as today. However, there is also a risk of a sudden selloff that could delay reaching this milestone.



Other News from Today