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#Light77777 : Bitcoin ETFs are buying heavily into Bitcoin.
Here are the details:
- Over $1 billion worth of Bitcoin (around 10,800 BTC) was purchased through ETFs last week.
- The main Bitcoin ETF, ISHARES BITCOIN TRUST ETF (IBIT), trades on NASDAQ with a current price of $60.72.
- ETF purchases create strong demand for Bitcoin, often leading to price increases.
- Institutional investors are driving this demand, viewing Bitcoin as a store of value and inflation hedge.