Markets
Crypto: Bitcoin ETFs herald a less volatile token in the long term, traders say
Bitcoin started the week in the throes of a decline that fueled fears of capital outflows from dedicated U.S. exchange-traded funds. Instead, dip buyers poured in cash, a trend that some say points to a less volatile token in the long term.
A net $737.5 million was added to the 11 ETFs in the four days through Thursday, stabilizing Bitcoin near $58,000 after falling to $53,602 on July 5 amid sales of seized tokens and fears of divestments by creditors of bankrupt exchange Mt. Gox.