Bitcoin achieves daily investment record in ETF in June
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These money flows hit the price of Bitcoin, which exceeds $ 106,000.
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The high on fire between Iran and Israel took the financial markets peace of mind.
In an impulse of investor’s confidence, the Bitcoin ETFs that are quoted in the United States Stock Exchange registered net tickets of 588 million dollars yesterday, June 24, marking the largest injection of daily capital for these financial instruments so far this month.
This milestone extended its streak to 11 consecutive days of positive flows, mainly led by the Ishares Bitcoin Trust (Ibit) of Blackrock, which attracted 436 million dollars alone.
The constant demand for Ibit has promoted a notable streak, With the ETF accumulating $ 3,000 million in new capital during the last 11 days.
In the last 51 days of negotiation, Ibit only recorded outings three times, achieving net tickets in 44 days. This sustained interest of investors highlights the growing attraction of ETFs backed by Bitcoin.
These capital flows directly impact Bitcoin’s price, since fund managers must buy and maintain digital currency to support their shares. ETF’s greatest demand forces firms to acquire more bitcoin in the market, which raises its price for the simple dynamic of supply and demand.
Consequently, the price of Bitcoin exceeded $ 106,000, recovering from a fall to $ 98,000 on the weekend, caused by geopolitical tensions.
The price volatility originated from an escalation in the conflict between Israel and Iran, intensified by US bombardments to three Iranian nuclear facilities: Fordow, Natanz and Isfahán, as Cryptooticias reported.
However, a high fire agreement between Iran and Israel on Monday reset the calm in the financial markets, stabilizing the price of Bitcoin and strengthening the feeling of investors.
