Bitcoin's rally toward $86,000 has pushed US spot exchange-traded fund (ETF) investors back into profit after months underwater.
Data showed Bitcoin gained about 6% over the past 24 hours, extending its September rebound and briefly trading near $86,000. Bloomberg Intelligence ETF analyst James Seyffart said the move put the average US Bitcoin ETF holder above water for the first time since January.
- Estimated buys-only cost basis for the funds stands at about $81,722 per Bitcoin
- Net cost basis for the funds sits closer to current prices
- Bitcoin traded around $85,165 in Bloomberg Intelligence's latest reading
