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US Spot Bitcoin ETFs Near $110 Billion Milestone Amid Bitcoin’s $100K Rally

United States-based spot Bitcoin exchange-traded funds (ETFs) are approaching a major milestone after record-breaking growth in 2024 as Bitcoin crossed the $100,000 price level. US spot Bitcoin ETFs are now just 2.2%, or $2.2 billion, away from surpassing $110 billion in cumulative holdings, representing over 5.7% of Bitcoin’s total supply, according to Dune data. BlackRock, the world’s largest asset manager, leads the US Bitcoin ETF market. Its iShares Bitcoin Trust ETF holds over 542,000 BTC, valued at $51.5 billion, which accounts for 47.9% of the market share among all US Bitcoin ETFs. This positions BlackRock’s fund as the 34th largest ETF globally, spanning both cryptocurrency and traditional financial products, as per ETF Database. The ETFs have been instrumental in Bitcoin’s rally toward $100,000. US spot ETFs drove approximately 75% of new Bitcoin investments, propelling its price past the $50,000 mark by mid-February 2024. Bitcoin to $200K in 2025? BlackRock’s Bitcoin ETF is expected to further institutional adoption in 2025 by simplifying access for large investors, according to Ryan Lee, chief analyst at Bitget Research. “The new ETF milestone and BlackRock’s growing fund could propel Bitcoin to $200,000 during 2025,” Lee told Cointelegraph . “Long-term projections suggest sustained growth, with some forecasts placing Bitcoin’s value at $200,000 by 2025. However, the trajectory will be influenced by regulatory developments, market dynamics, and broader economic conditions,” he added. Currently, Bitcoin must gain another 4.1% to reclaim the $100,000 psychological mark. Bitcoin faces key resistance levels at $97,600 and $99,000. A rally above $99,000 could liquidate over $1 billion worth of leveraged short positions, according to CoinGlass data. CoinOtag

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Bitcoin Surges as Altcoins Await Stability for Growth

Bitcoin’s recent performance is critical for altcoin growth. FLOKI and Fartcoin show promising signs with ongoing campaigns and support. Continue Reading: Bitcoin Surges as Altcoins Await Stability for Growth The post Bitcoin Surges as Altcoins Await Stability for Growth appeared first on COINTURK NEWS . CoinOtag