The price of Bitcoin (BTC) was recovered during the early hours of the day of this Friday, September 12, promoted – among other factors – for the positive movements recorded in the market of the funds quoted in the stock market (ETF) that are negotiated in the United States.
At the close of this report, BTC touches the USD 115,000, according to the cryptootic price calculator, after having touched the USD 116,200 earlier. It is a recovery of more than 4% for three days.
This climb responds to massive money in the ETFs, that only on Thursday, September 11 registered USD 552.7 million dollars In net income. And, a day before, tickets reported in the order of the 757 million dollars.
Seen from a weekly prism, the second week of September has been the most large for these financial vehicles, since tickets of 1.7 billion dollars accumulate, the highest amount of capital income seen in the last 7 weeksaccording to Sosovalue’s data.
However, from a monthly point of view, September is still far from other months in which capital tickets to the ETFs were vast. In July alone, for example, an income higher than USD 6,000 million in these investment products was recorded.
Bitcoin ETFs influence the price of digital currency because they facilitate institutional and retail investors to access the asset in traditional stock market brockers, without the need to buy it directly. Being backed by Bitcoin Real, Each participation issued in an ETF requires the equivalent purchase of BTC in the marketwhich increases the direct demand of the asset. In addition, its traditional bags price increases the liquidity and visibility of Bitcoin, attracting new capital.