European Investors Allocate Record Amounts of Capital to Spot Bitcoin Exchange-Traded Funds (ETFs) in the US!

Spot bitcoin exchange-traded funds have been the subject of much buzz since the US approved them earlier this year, and capital has been growing steadily. At present many very big investors are allocating capital in it. As European investors have allocated record amounts of capital to spot bitcoin exchange-traded funds (ETFs) in the US. European investors have invested a huge amount of money in spot bitcoin and this amount is more than 105 billion dollars.

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Bitcoin prices soared to record highs this year after spot bitcoin exchange-traded funds were approved in the US. However, Bitcoin is now trading near all-time highs. Ever since the spot Bitcoin ETF was approved by the United States, investor interest in it has been increasing and many investors are investing in it. Flows into US-focused ETFs by European natives are now at a record $105b YTD. However, the reason behind this investment is that $SPY is up 24% vs. 10% for Europe. The current investor interest and growing ETF inflows could push Bitcoin from its current crabwalk to all-time highs.

Despite ETF records and hashrate hitting all-time highs, Bitcoin is currently hovering around $67,000, though it is well below the all-time highs it hit earlier. The European influx wasn't the only record milestone for bitcoin and bitcoin-based ETFs. Yesterday Bitcoin's hashrate — the total computing power needed to secure the network — hit an all-time high. And this results in factors such as increasing network security and increasing BTC mining costs

Despite multiple ETF milestones, the price of Bitcoin hasn't quite risen as much as it should, with the price currently stuck below $69,500 for the past few months. However, it is expected that the impact that investments currently have on Bitcoin will affect the spot BTC price very soon. And hopefully it will take several days to affect the price of Bitcoin. Large ETF inflows have a muted effect for a few days and then the market turns lower as spot market buyer aggression subsides. However, it is natural that the way people or investors are currently investing in spot bitcoin ETFs will have a positive impact on the price of bitcoin. It may take a few days. However, it is expected that before November or after the US election, the price will move past the historical highs into a good position.