On Wednesday, the total value of investments in Bitcoin exceeded $1 trillion for the first time since November 2021, as US spot Bitcoin exchange-traded funds continued to boost the price of the cryptocurrency.
The price of Bitcoin reached a new 25-month high of $52,079 and was up 4.29% at $51,690, bringing its market capitalization to $1.013 trillion according to Coingecko.
This marks a 22% increase since the beginning of February, making it the biggest monthly surge since October.
Analysts attribute some of this growth to strong inflows into newly-listed US ETFs, with $1.64 billion in capital flowing into 11 US spot Bitcoin ETFs in the week leading up to Wednesday according to LSEG Lipper data.
In the previous five trading sessions, $409 million was invested in these products, which received regulatory approval and began trading in January.
