Bitcoin has soared through 2024, even as a dire warning from the Federal Reserve sparked fears of an impending crash.
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Bitcoin price surpassed $100,000 per bitcoin due to Donald Trump’s victory in the US presidential election, which was described as a “watershed moment” for cryptocurrencies after Wall Street launched spot Bitcoin exchange-traded funds (ETFs). .
With BlackRock now confirming a worrying Bitcoin price boom, Bitcoin price is predicted to be just weeks away from a “big” move as new Bitcoin ETF filings are announced.
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US President-elect Donald Trump is expected to have a positive attitude towards Bitcoin and cryptocurrencies … [+]
“If it’s true that many market makers are exposed to Bitcoin given the big price moves, then we’re just weeks away from the next big move,” said Bitcoin and crypto investor Mike Alfred during an X Week with podcaster Scott Melker, who pointed to the largest Bitcoin options expiry to date on Friday.
Bitcoin’s adoption on Wall Street this year was led by the world’s largest asset manager BlackRock after it successfully brought Bitcoin ETFs to the US last year and the funds made their debut in January.
U.S. spot Bitcoin ETFs surpassed $100 billion in net assets for the first time in November, while BlackRock’s iShares Bitcoin Trust (IBIT) now has around $60 billion in assets under management, according to data from Bloomberg Intelligence has become one of the fastest growing ETFs of all time.
Two new ETFs were filed with the Securities and Exchange Commission (SEC) this week, aiming to build on the growing trend of companies adopting Bitcoin treasuries.
The Bitwise Bitcoin Standard Corporations ETF would invest in companies that have “adopted the ‘Bitcoin Standard,'” meaning holding more than 1,000 bitcoins and meeting certain size and liquidity requirements.
“I think 2025 will see an explosion of interest in index space strategies that provide diversified exposure to cryptocurrencies,” said Matt Hougan, chief investment officer of Bitwise Bloomberg this week.
“Naturally, [that is] Something we at Bitwise have been doing since 2017 when we developed this concept. I think 2025 will be the time when allocation in this space becomes mainstream, just as it does with stocks, bonds, real estate and everything else.”
Meanwhile, Strive, an asset manager co-founded by Vivek Ramaswamy, who will lead the Trump administration’s Doge Government Efficiency Department alongside Elon Musk, has filed to create the Strive Bitcoin Bond ETF, which will “provide exposure to convertible securities issued by MicroStrategy…” or other companies that Strive…expects to invest all or a significant portion of the proceeds in the purchase of Bitcoin (collectively, “Bitcoin Bonds”).
“The Bitcoin Treasury Operations virus is spreading,” wrote Nate Geraci, president of The ETF Store, on X.
MicroStrategy, which was founded as a software company in the Internet boom before the dot-com bubble, has morphed into what its co-founder and chairman Michael Saylor calls a “bitcoin treasury” company, outperforming companies like stock market darling Nvidia because of its Bitcoin -Purchases finance the sale of convertible bonds and stock offerings on the market.
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The price of Bitcoin has risen sharply this year, and many crypto market observers believe that 2025 could be a success … [+]
MicroStrategy has led the Bitcoin price boom to an all-time high, far exceeding Bitcoin’s valuation as traders use the company’s shares as a Bitcoin proxy and the company now holds 444,000 Bitcoin worth nearly $42 billion.
“This institutional adoption has a significant impact on stabilizing the market amid broad sell-offs,” Maksym Sakharov, co-founder of decentralized finance platform WeFi, said in emailed comments.
“When US President-elect Donald Trump takes office next year, more companies will enter the Bitcoin ecosystem as regulations become more favorable. The foundation for this favorable policy around Bitcoin and the crypto industry has already been laid. From an active bill, “From establishing a strategic Bitcoin reserve for the country to appointing a pro-cryptocurrency US SEC chairman and crypto czar, the ecosystem could become attractive to many American institutions and investors next year.”
