And it’s not the only cryptocurrency having a good week.
Transcript:
Bitcoin is back in record breaking territory. The world’s largest cryptocurrency soared to new all-time highs early Friday – topping 118-thousand. That’s its first all-time high since May.
So, what’s fueling the rally? A few things. Institutions have been pouring into crypto ETFs—big time. In fact, Bitcoin ETFs just had their biggest day of inflows this year—racking up $1.18 billion on Thursday alone, according to SoSoValue.
And it’s not just Bitcoin. Ethereum and XRP also popped this week—both logging double-digit gains.
Washington is also helping the mood. Lawmakers are gearing up to review several key digital-asset proposals next week, which has made investors upbeat.
Crypto’s rise comes amid a broader market rally. The S&P is wrapping up the week near all-time highs.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Caroline Woods with TheStreet.
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