BlackRock's Bitcoin ETF Hits Record $10B Amid Crypto Surge and Altcoin Boom
March 10, 2024BlackRock's iShares Bitcoin ETF (IBIT) has reached a landmark $10 billion in assets, setting a record as the quickest ETF to achieve this in U.S. history.
Bitcoin's performance has eclipsed that of traditional assets, with a 57% surge outpacing the Nasdaq 100 index and gold in 2024.
Ether has outperformed bitcoin with a 72% increase, driven by anticipation of a U.S. ethereum ETF and the 'Dencun' upgrade.
The cryptocurrency market is buoyant, with Bitcoin reaching new highs and altcoins, especially within the Solana ecosystem, gaining traction.
Five altcoins - Bitcoin Minetrix, Meme Kombat, Scotty the AI, Taraxa, and The Graph - are noted for their unique features and substantial presale raises.
The upcoming Bitcoin halving and the potential SEC approval of a spot Ethereum ETF are expected to further fuel the crypto market demand.
With a bullish market sentiment and a 24-hour trading volume of $363.32B, the crypto market shows a positive outlook for growth and innovation.
Summary based on 64 sources
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Sources
Bloomberg • Mar 9, 2024
Bitcoin (BTC) Price: Should You Invest in Crypto With Prices Hitting Record?Nasdaq • Mar 13, 2024
BTC/USD Over 60K: What the Critics Got Wrong and What to Expect From HereBloomberg • Mar 9, 2024
Bitcoin (BTC) Price: Should You Invest in Crypto With Prices Hitting Record?