Bitcoin Rebounds as Spot ETFs Attract $295 Million in Deposits

Bitcoin’s price has shown signs of recovery following a period of decline, with the cryptocurrency rising above $57,000. This rebound coincides with significant inflows into US spot Bitcoin ETFs, which recorded $295 million in deposits on Monday. BlackRock’s iShares Bitcoin Trust (IBIT) led the inflows with $187 million, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) attracted $71 million. The increased interest in spot Bitcoin ETFs suggests growing institutional involvement in the crypto market.Read more on Decrypt