Here’s an overview of the standout developments from 2024 and how they could impact the industry this year:
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Eleven new spot Bitcoin ETFs approved
In a breakthrough widely seen as opening the door to mainstream adoption of digital assets, the U.S. Securities and Exchange Commission Green light for 11 spot Bitcoin exchange traded funds. Industry giants such as BlackRock, Ark Investments/21Shares, Fidelity, Invesco and VanEck secured approval. Trading began on January 11 and the first inflows exceeded expectations.
Market participants say this ETF stamp of approval has set a new benchmark for regulatory clarity and will potentially further drive institutional demand for cryptocurrencies in 2025. The launch also paved the way for subsequent derivative products and provided more liquidity and hedging opportunities on Wall Street.
A pioneer in the world of commodity-based funds, BlackRock’s Gold ETF has built an impressive $33 billion in assets under management (AUM) over two decades, cementing its role as the preferred option for traditional investors seeking exposure looking for gold, consolidated. But the company’s Bitcoin ETF is changing the narrative at a breathtaking pace.
In less than a year, this cryptocurrency-focused fund has amassed nearly twice as much assets under management as its long-established Gold sister fund, signaling a seismic shift in institutional interest in digital assets. The rapid rise of Bitcoin as a hedge and store of value is now challenging gold’s status as the dominant safe-haven asset and marks a significant turning point in modern investing.
Source: X
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Empire State Building launches NFT rewards
Amid the January craze for digital collectibles…
