US Bitcoin ETFs draw nearly $1B as Bitcoin hits $85,000
Business
Bitcoin ETFs in the US saw a huge boost on Monday, with nearly $1 billion flowing in, the biggest jump since last October.
This happened right as Bitcoin's price shot up to $85,000, its highest point since January.
BlackRock, Ark, and Fidelity were the main drivers behind this surge.
Bitcoin ETF inflows top $1.31B
Despite recent bumps like a failed Senate vote and a Federal Reserve rate hike, big investors are still backing Bitcoin.
Inflows for September have already topped $1.31 billion, showing steady interest even when markets are shaky.
And while spot ETFs are down overall this year, Bitcoin itself is up 44% this quarter, making it the best-performing major asset right now.