A big reason for Bitcoin’s strength is the launch of spot . These are financial tools that let people invest in Bitcoin without actually buying the coin. Since these ETFs got approval in the US earlier this year, they’ve been getting a lot of investment.
Last week alone, more than $2 billion went into these ETFs. iShares Bitcoin Trust received over $1.3 billion. Other big firms like Fidelity and Ark Invest also added large amounts. Together, all these ETFs now hold more than one million Bitcoins, which is worth around $135 billion.
This steady flow of money from big investors is helping Bitcoin stay strong, even when smaller investors are less active.
