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US Bitcoin ETFs are nearing $110B in holdings, capturing over 5.7% of BTC supply. With BlackRock’s leadership, analysts forecast a $200K BTC price by 2025, fueled by institutional adoption and market momentum.
Bitcoin ETFs Drive Record Growth in 2024
After seeing unprecedented growth in 2024, when the price of Bitcoin surpassed $100,000, exchange-traded funds (ETFs) based in the United States are approaching a major milestone.
According to data compiled by Dune, the total value of holdings held by US spot Bitcoin ETFs is $2.2 billion, or 2.2%, of the total Bitcoin supply, which puts them a little over 5.7% of the way there.
The US Bitcoin ETF market is dominated by BlackRock, the largest asset manager in the world. With almost 542,000 BTC and a valuation of $51.5 billion, the iShares Bitcoin Trust ETF is 47.9% of all US Bitcoin ETFs.
BlackRock’s iShares Bitcoin Trust Among Global Leaders
If we include traditional financial goods with cryptocurrencies, this makes BlackRock's fund the 34th biggest ETF in the world, according to statistics from the ETF Database.
A large portion of Bitcoin's surge approaching the $100,000 mark can be attributed to the Bitcoin ETFs. By February 15, 2024, Bitcoin had surpassed the $50,000 threshold, thanks to the approximately 75% of fresh investment that came from US spot ETFs.
Analyst Sees $200K BTC Price Potential in 2025
The principal analyst at Bitget Research, Ryan Lee, predicts that more institutional adoption of Bitcoin will occur in 2025 as a result of BlackRock's Bitcoin ETF making it easier for big investors to participate.
As the expert told Cointelegraph, the new ETF milestone and BlackRock's expanding fund might push Bitcoin over $200,000 in 2025.
There is a lot of resistance for the bitcoin price between $97,600 and $99,000. According to CoinGlass statistics, if the price of bitcoin were to possibly rise above $99,000, more than $1 billion worth of leveraged short bets would be liquidated.
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