Most of the $16 billion inflow into spot bitcoin ETFs since their launch likely came from existing digital wallets on exchanges, the report said.

How recently have you consulted with your lawyers about where the law currently?" asked an ASIC representative while speaking to an audience of crypto industry-goers.

Bitcoin reached $70,000 but later dipped to $67,600 after Federal Reserve's hawkish stance post FOMC announcement and lower-than-expected CPI data release.