Rising tide
Prices rose strongly on Wall Street appetite for bitcoin, and Coinbase exceeded Q4 estimates. But watch out, U.S. spot Ethereum ETFs won't necessarily follow. In Trending Topics, we discuss yield-paying stablecoins and the new fungible (!) NFTs.
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Rising prices driven by record ETF flows
Bitcoin prices, with other cryptos following in its tailwind, have risen significantly over the past week.Bitcoin's 7-day return of 12% is driven by the record inflows to the new U.S. spot ETFs. Over the last six trading days, daily net inflows to the spot ETFs averaged about 10,000 bitcoin (≈$520 million at current prices).
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