Blackrock Ishares Bitcoin Trust has rapidly risen to the top of the market for exchange-traded bitcoin funds ETFs, landing among the top five in terms of 2024, demonstrating the growing interest of investors in the crypto asset class as a legitimate asset class.

Eric Balchunas, a senior ETF analyst at Bloomberg, highlighted this achievement on X, noting that IBIT had attracted more cash than 99.98% of ETFs, a staggering feat for a fund that’s barely over three weeks old. A shift in strategy between asset managers may be to blame for some of this influx of capital.

GBTC was a close-ended fund until the second week of January 2024, when the US Securities and Exchange Commission approved Bitcoins ETFs. As other new products from the likes of BlackRock were launched in early January, they were converted to an ETF.

Before the approval of the spot ETF, GBTC charged customers a 2% management fee and had approximately 630,000 bitcoins in its possession.

Top Altcoins(Bitcoin, ApeCoin, MEMEcoin) Poised for Explosive Growth

The future looks promising for it as Bitcoin gets more and more popular, Bitcoin ETFs are approved, bitcoin halving is about to take place, and lightning network developments.

In 2024, as more and more people adopt it, there is a possibility of reaching new highs while still exceeding $75,000 at the end of that year.

  • ApeCoin is scheduled to unlock over 15.6 million tokens on February 15, 2024, valued at around $22.3 million. This token unlock will release 2.58% of the existing circulating supply. Analysts predict that this unlock will have a positive impact rather than selling pressures disrupting the upward movement.
  • The MEME token has been on an uptrend for the past two weeks after facing a bearish trendline. The coin seems to be poised for a substantial upside trend as it has begun to show signals of a bullish comeback. As of this article, Memecoin has a market cap of $255 million and is trading at $0.02586.

Despite the latest setback for UK retail investors, Bitcoin has continued to show strength. An examination of Bitcoin on the daily timeframe showed a stable trend with no significant


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