Wall Street Embraces Bitcoin with $100 Billion in ETFs, Record $3.1 Billion Inflows from BlackRock, Fidelity, and Bitwise

Nov 25, 2024, 10:00 PM

Bitcoin is increasingly becoming integrated into Wall Street, with new financial products and investment strategies emerging. Notable players in this space include BlackRock and Fidelity, which are leading the charge in Bitcoin exchange-traded funds (ETFs). Currently, U.S.-issued spot Bitcoin funds collectively manage over $100 billion in assets, with recent data indicating that these funds experienced their largest weekly inflow on record, surpassing $3.1 billion. The introduction of options on Bitcoin ETFs, particularly BlackRock's IBIT ETF, signifies a significant shift as Wall Street firms seek to capitalize on the growing interest in cryptocurrency investments. This development marks a new phase for Bitcoin, moving beyond traditional holders to a broader range of institutional investors.