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What will be the Bitcoin market cap by end of 2024?
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Story
U.S. Bitcoin ETFs Top $100 Billion, BlackRock's IBIT Sees $626M Inflow
Nov 21, 2024, 12:11 PM
The assets under management (AUM) of U.S. Bitcoin exchange-traded funds (ETFs) have surged past the $100 billion mark, reaching $104 billion, driven by a record-breaking rally in Bitcoin prices. Bitcoin reached an all-time high of $98,367, pushing the total market cap of the cryptocurrency close to $2 trillion. BlackRock's IBIT ETF has emerged as a leader, amassing $45.4 billion in net assets, and saw an influx of $626 million in a single day. The ETFs are now close to surpassing Satoshi Nakamoto as the largest holder of Bitcoin and are nearing the AUM of gold ETFs, with year-to-date flows flirting with $30 billion, which is double the initial estimate.
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