The highly successful introduction of U.S.-based spot ETFs combined with the election of Donald Trump to spearhead the rally.
Bitcoin's price has surged past the $100,000 mark for the first time in its history, fueled by institutional demand, corporate accumulation and heightened expectations of crypto-friendly policies under Donald Trump's presidency. At the forefront of this rally was the early-2024 launch of spot-based bitcoin exchange-traded funds by asset management giants including BlackRock and Fidelity. These products have been a resounding success, securing assets under management of around $30 billion in less than one year's time.
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