US Bitcoin ETF funds have been inflowing for 18 consecutive days, setting a record, and the options market is betting that Bitcoin will reach a new high this month

Odaily News U.S. exchange-traded funds that invest directly in Bitcoin have recorded net inflows for the 18th consecutive day, setting a record for consecutive days of inflows, and the surge in demand has helped push the world's largest digital asset to a record high. Data shows that since its launch on January 11, as of Thursday, more than a dozen such products have a total net subscription of US$15.6 billion and total assets of US$62.3 billion. Many speculators in the options market expect that Bitcoin prices will exceed the historical highs set in March this month, thanks to ETF demand and expectations of interest rate cuts by the Federal Reserve. "A large amount of funds have flowed into spot Bitcoin ETFs," Sean Farrell, head of digital asset strategy at Fundstrat Global Advisors LLC, wrote in the report. "Macro trends continue to favor cryptocurrencies, economic growth has slowed but not declined, and inflation continues to show signs of slowing." (Jinshi)