As a seasoned researcher who has witnessed the evolution of the digital economy, I must admit that the growth trajectory of US spot Bitcoin ETFs is nothing short of breathtaking. With BlackRock, the financial titan, leading the charge, we are on the brink of crossing an unprecedented milestone – $110 billion in cumulative holdings, representing over 5.7% of the total Bitcoin supply.
The impact of these ETFs on Bitcoin’s price rally to $100,000 is undeniable, and their role in facilitating institutional adoption is truly remarkable. The potential for further growth, as suggested by Bitget Research’s Ryan Lee, is indeed tantalizing, with a projection of Bitcoin reaching $200,000 in 2025.
However, let’s not forget that the road to $200,000 is not without its obstacles. Regulatory hurdles, market dynamics, and broader economic conditions will all play a role in shaping Bitcoin’s trajectory. As a researcher who has seen more than a few market surprises in my time, I can only say that it pays to stay nimble and keep an open mind.
On a lighter note, if Bitcoin does reach $200,000, I might just have to dust off my old calculator and start thinking about what a million dollars in Bitcoin looks like! After all, who knows, we might be laughing at our old predictions by then. The digital economy is full of surprises!
2024 saw unprecedented expansion for U.S.-based Bitcoin exchange-traded funds (ETFs), approaching a major achievement with Bitcoin’s price surpassing $100,000.
Approximately 2.2% (or around $2.2 billion) remains before U.S.-listed Bitcoin ETFs collectively surpass a total value of $110 billion, representing over 5.7% of the entire Bitcoin supply, as per Dune Analytics data.
As a crypto investor, it’s clear to see that BlackRock, the global titan in asset management, reigns supreme in the U.S. Bitcoin ETF sector. Their iShares Bitcoin Trust ETF alone controls over 542,000 Bitcoins, worth approximately $51.5 billion, which makes up an impressive 47.9% of the market share among all U.S. Bitcoin ETFs. In essence, they hold a significant chunk of the Bitcoin pie in this part of the world.
Data from ETF Database shows that BlackRock’s fund ranks as the 34th largest Exchange-Traded Fund (ETF) worldwide, encompassing both digital currencies and conventional financial assets.
Bitcoin Exchange-Traded Funds (ETFs) have played a substantial role in propelling Bitcoin’s surge towards the $100,000 threshold. These US spot ETFs were responsible for approximately 75% of fresh investments in Bitcoin, helping it surpass the $50,000 level by February 15, 2024.
Bitcoin to $200,000 in 2025?
According to Ryan Lee, the chief analyst at Bitget Research, the potential launch of BlackRock’s Bitcoin ETF in 2025 is expected to significantly increase institutional adoption due to its ease of access for large-scale investors.
According to the analyst’s prediction, reached by the new ETF and BlackRock’s expanding funds might drive Bitcoin’s price up to $200,000 by the year 2025, as shared with CryptoMoon.
“Long-term projections suggest sustained growth, with some forecasts placing Bitcoin’s value at $200,000 by 2025.”
Lee mentioned that various factors like regulatory changes, market trends, and overall economic circumstances will have an impact on our path forward,”
Or simply:
“Regulatory changes, market trends, and broader economic conditions will shape the course we’ll take, Lee pointed out.
However, Bitcoin still needs to gain another 4.1% to recover above the $100,000 psychological mark.
The cost of a single Bitcoin encounters substantial barriers around $97,600 and $99,000. If it manages to surge past $99,000, it could trigger the liquidation of over a billion dollars’ worth of short positions, as per data from CoinGlass.
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2025-01-02 17:42