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NEW YORK - Bitcoin's foray into the mainstream financial world has gained considerable momentum with the introduction of 11 U.S.-based exchange-traded funds (ETFs) tracking its spot price on Wall Street. These funds have garnered a significant $4.1 billion in inflows since January 11, with the total assets under management now exceeding $27 billion. The ETFs experienced a robust start, with $4.6 billion worth of shares traded on their inaugural day.

The successful launch of Bitcoin ETFs is indicative of the cryptocurrency's increasing maturity and acceptance among traditional investors. The substantial capital inflow into these funds suggests a growing confidence in Bitcoin as an investable asset, and the ETFs are expected to bring about a new era of reduced volatility for the digital currency. The added liquidity and market participation from these investment vehicles could potentially stabilize Bitcoin's price movements.

https://www.investing.com/news/cryptocurrency-news/bitcoin-etfs-draw-41-billion-since-recent-wall-street-debut-93CH-3280940