From Nasdaq:

The total amount of money invested in bitcoin surpassed $1 trillion on Wednesday for the first time since November 2021, with bitcoin reaching a 25-month high of $51,606 and a market cap of $1.005 trillion. This was driven by strong inflows to U.S. listed ETFs, with inflows into 11 U.S. spot bitcoin ETFs increasing to $1.64 billion in the week to Wednesday.

The all-time high for bitcoin’s market cap was $1.28 trillion in November 2021, with the world’s largest cryptocurrency rising around 20% since the start of February. Additionally, investments in bitcoin make up for more than half of the $2.01 trillion parked in the overall cryptocurrency market, which includes ether and other digital coins.

Shares of U.S.-listed cryptocurrency companies also gained before the bell on Wednesday, with exchange Coinbase climbing 7%, while miners Riot Platforms and CleanSpark gained nearly 9% and 16%, respectively. The second-largest token ether was also up 4.1% at $2,742, its highest since May 2022.

In the last few months, hopes of a soft landing for the economy and the launch of spot bitcoin ETFs have helped sentiment. The ETFs have been touted as a game-changer for the industry, as investors can now have exposure to bitcoin without directly holding the asset. As a result, analysts believe that large inflows will be met by further price rises for spot bitcoin.



Read more: Total amount invested in bitcoin back above $1 trillion