Bitcoin ETF holders are back in profit after the cryptocurrency’s latest surge, with bitcoin breaking above $86,000 to hit a high of $86,837 during the session, pushing the average investor above the estimated ETF cost basis of $81.72 for the first time since January. U.S. Bitcoin ETFs managed by BlackRock, Fidelity, Grayscale and Morgan Stanley recorded net positive flows of over $6 million last week, with nearly $593 million invested on Thursday and Friday according to Farside Investors data. Bitcoin is currently trading more than 30% below its all-time high of $126,080 reached last year. The ETFs collectively manage a total of $98.8 billion in assets under management, according to Coinglass data.
Source: Read the original article
