(Bloomberg) — Bitcoin came close to $70,000 on Monday as a spurt of inflows into exchange-traded funds for the largest digital asset as well as optimism about the outlook for US regulations supported sentiment.
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The cryptocurrency rose 1% before paring gains to trade little changed at $68,720 as of 11 a.m. in Singapore. Smaller tokens such as second-ranked Ether and top-10 coin Solana oscillated in a narrow range.
US spot-Bitcoin ETFs lured almost $2.4 billion of net inflows in the six days through Oct. 18, data compiled by Bloomberg show, partly on bets that US crypto rules will become friendlier after the Nov. 5 presidential election.
Republican candidate Donald Trump is avowedly pro-crypto, so much so that Bitcoin is viewed as a so-called Trump trade. Democratic rival Vice President Kamala Harris has vowed to support a regulatory framework for the industry….
