- Bitcoin surpassed $100,000 following Donald Trump‘s presidential election victory.
- BlackRock‘s iShares Bitcoin Trust accumulates $60 billion in assets under management.
- Two new ETFs filed with SEC focus on corporate bitcoin treasury adoption.
- U.S. spot bitcoin ETFs exceed $100 billion in total net assets.
- Market analysts predict major price movements in coming weeks due to options expiry.
Bitcoin’s Institutional Surge Continues as Corporate Treasury ETFs Emerge
The cryptocurrency market continues its upward trajectory in 2024, with Bitcoin reaching $100,000 after Donald Trump secured the presidential election (although now down to around $94K at the time of writing this post).
This milestone comes as institutional adoption accelerates through spot Bitcoin ETFs and new investment vehicles targeting corporate treasury strategies.
Corporate Treasury Evolution
The institutional cryptocurrency landscape is expanding, as evidenced by two new ETF applications filed with the Securities and Exchange Commission. Bitwise’s Bitcoin Standard Corporations ETF aims to invest in companies holding over 1,000 bitcoin, while meeting specific size and liquidity requirements.
MicroStrategy exemplifies this trend, holding 444,000 bitcoin valued at approximately $42 billion.
The company’s strategy of financing bitcoin purchases through convertible notes and share offerings has resulted in its stock outperforming major tech companies like NVIDIA.
Institutional Impact
BlackRock’s influence on Bitcoin adoption continues to grow, with its iShares Bitcoin Trust (IBIT) becoming one of the fastest-growing ETFs in history. According to Bloomberg Intelligence data, U.S. spot bitcoin ETFs have accumulated over $100 billion in net assets.
Mike Alfred, a cryptocurrency investor, indicates that market makers’ exposure to Bitcoin could trigger significant price movements in the coming weeks, particularly considering the largest-ever bitcoin options expiry.
Maksym Sakharov, WeFi cofounder, notes in email correspondence that institutional adoption provides market stability during broad selloffs. The anticipated Trump administration policies, including:
- Proposed strategic bitcoin reserve legislation
- Pro-cryptocurrency SEC chair nomination
- Appointment of a dedicated crypto policy coordinator
These developments suggest increased institutional participation in the cryptocurrency ecosystem through 2025.
Matt Hougan, Bitwise chief investment officer, projects that 2025 will bring increased interest in index-based cryptocurrency investment strategies, similar to traditional asset classes like stocks and bonds.
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