Bitcoin (BTC-USD) has hit over $50,000 for the first time since late 2021, continuing the recent crypto rallies and seeing gains of over 17% in the past month. With many inflows attributed to the recent approval of spot bitcoin ETF offerings, can bitcoin maintain this run?
Fundstrat Global Advisors Head of Digital Asset Strategy Sean Farrell and Swan Bitcoin Head of Swan Business Dante Cook join Yahoo Finance to discuss bitcoin ETF inflows and give insight into bitcoin’s future.
Cook puts the rally into context:
“There are a lot of other factors outside of just the ETF inflows, although that is a massive reason why… you’re seeing a lot of this price action because these ETF launches have been historic,” Cook says, putting the rally into context. “FBTC, Fidelity’s product [and] IBIT, Blackshare’s product are number one and two the most successful ETF launches of all time. Just like the Chiefs and Patrick Mahomes won back to back championships, these last two weeks you’ve seen back-to-back historic levels of inflows in dollars moving into this asset class.”
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Editor’s note: This article was written by Nicholas Jacobino