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Bitcoin’s price surged past the $50,000 mark on Monday, signaling a potential end to the 1-month-long selloff in Grayscale Investments’ spot fund.
Bitcoin rally to $50,000 coincided with increased inflows into spot Bitcoin Exchange-Traded Funds (ETFs) over the past week, reaching over $1.1 billion in net flows as outflows from the Grayscale Bitcoin Trust (GBTC) continue to slow down.
Weekly digital asset flows — Source
CoinShares’ report on February 12 highlighted the substantial inflows into newly issued spot-based Bitcoin ETFs in the US, totaling $2.8 billion since their January 11 launch.
However, it acknowledged that the potential sale of the Genesis holdings of $1.6 billion GBTC…
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