Bitcoin approaches $55k as IBIT tops $1B in trades

Bitcoin surged as much as 6.8% Monday to hit $54,446 — a high not seen since November 2021 — as investment products continue to rake in the cash. Ether was also on the rise, surpassing $3,180 and extending its rally from earlier in the week. 

Equities were mixed toward the end of Monday’s session. The S&P 500 lost around 0.2% while the Nasdaq Composite was flat, gaining a modest 0.03%. 

These price moves come as investors continue to fund bitcoin and ether investment vehicles. Digital asset investment products clocked $598 million in inflows last week, extending a four-week streak of positive inflows, according to data from CoinShares. Bitcoin (BTC) products were the winner,…

Read more on Blockworks

70.2K Reads