From Investing.com: 2024-06-05 08:40:57

Bitcoin prices declined by 0.9% last week, closing just above $67,800. Mining stocks dropped 3.7%, reversing gains from the previous week. The network hash rate fell 13.8% to 567 EH/s, the largest decline since 2021. The Bitcoin network difficulty remains at 84.4T, with hash prices increasing 3.1% to $0.055/TH/day.

Flows into U.S. spot BTC ETFs increased with positive crypto regulation signals. Donald Trump’s supportive comments at a convention boosted sentiment. Bipartisan support overturning SEC’s SAB 121 and approval of ETH ETFs were seen. Biden vetoed the SAB overturn and the House passed the FIT21 Act for crypto regulation, leading to 15 days of net inflows into BTC ETFs.

BlackRock’s iShares Bitcoin Trust became the fastest ETF to reach $20 billion in AUM, surpassing Grayscale Bitcoin Trust. IBIT achieved this milestone in less than five months, solidifying its position as the world’s largest bitcoin fund.

Read more at Investing.com: ETF inflows re-accelerate as regulatory stance on crypto takes a positive turn By Investing.com