Bitcoin ETFs Surge Past $70B Barrier, Short Positions Threatened by Volatility

BlackRock’s Bitcoin exchange-traded fund (ETF) has reached a remarkable milestone, surpassing $70 billion in assets under management (AUM) in just 341 days. This swift ascent highlights explosive institutional interest in Bitcoin investments. At the same time, over $1.1 billion in short positions on Bitcoin are teetering precariously near liquidation. As Bitcoin’s price nears crucial levels around $110,000, these shorts stand on a knife-edge.