Bitcoin ETFs Soar on $2.8B Inflows Amid Bull Run

Bitcoin ETFs have seen an influx of nearly $3 billion in investments since September 17, with investors buying for six consecutive days. The funds, managed by BlackRock, Fidelity, and Morgan Stanley, received over $2.8 billion in new investment during this period.

On Monday alone, investors bought nearly $1 billion in shares, the most since October 6 when the funds received over $1.2 billion and Bitcoin's price hit a new all-time high of $126,080.

Despite the surge in investments, Bitcoin's price has only modestly increased, standing at nearly $83,975 after reaching as high as $87,330 on Monday. Over the past seven days, the coin's price has surged by nearly 4%.

The average ETF buyer is now in profit, with the estimated ETF cost basis surging above $81,722 for the first time since January.