Institutional Titans Fuel Bitcoin Boom, Eyeing $70K This Month!

The post Institutional Titans Fuel Bitcoin Boom, Eyeing $70K This Month! appeared first on Coinpedia Fintech News

BlackRock’s IBIT Bitcoin holdings are standing strong above $18 billion. Morgan Stanley has just disclosed a $270 million investment in the Grayscale Bitcoin ETF. Further, the daily total net inflow of U.S. Bitcoin ETFs reached an impressive $257.34 million.

This week, the U.S. Bitcoin spot ETF’s trading volume hit $5.65 billion, the highest since March. Bitcoin ETFs have seen $1.3B in inflows over two weeks, offsetting April’s negative flows. With such massive institutional backing, Bitcoin is poised to potentially reach $70K this month, signaling robust confidence in the crypto’s future.