From Nasdaq:

Bitcoin is on track for its biggest monthly gain in over three years, nearing a record high. The cryptocurrency is trading at $62,000, with a 45% monthly increase. Ether is also up, trading at $3,429, a 50% gain in February. A surge in cash flow to listed bitcoin funds is propelling the rally.

Coinbase Global is experiencing a surge in traffic as interest in bitcoin grows. The approval and launch of spot bitcoin exchange-traded funds in the U.S. has reignited excitement in the asset class. Flows into the top 10 spot bitcoin ETFs totaled $420 million in a single day.

Investors are flocking to bitcoin ahead of April’s halving event, which occurs every four years. The supply of bitcoin is limited to 21 million, with 19 million already mined. The prospect of rate cuts by the Federal Reserve is driving investor interest in higher-yielding assets. Foreign exchange volatility is at a two-year low, while the U.S. equity volatility index is returning to pre-pandemic levels.



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