In recent cryptocurrency news, BlackRock’s iShares Bitcoin Trust (IBIT) has emerged as the top-performing US spot Bitcoin ETF of 2024. It managed to draw over $37 billion in net inflows, surpassing its nearest competitor, the Fidelity Wise Origin Bitcoin Fund, which received nearly $12 billion. This achievement highlights BlackRock’s dominant position in the market, despite the overall US spot Bitcoin ETFs witnessing substantial outflows, particularly from Grayscale’s Bitcoin Trust, which saw $20 billion in outflows over the year.
The success of Bitcoin ETFs gained momentum in November when Donald Trump clinched the US presidential nomination, infusing a renewed positive outlook among investors. This drove the assets under management of US spot Bitcoin ETFs to exceed $100 billion for the first time.
In another development, the global asset management firm Franklin Templeton has projected an increase in the adoption of strategic Bitcoin reserves by nations around the world by 2025. The firm’s digital assets outlook indicates a significant shift from speculative investments to utility, positioning Bitcoin as a recognized digital store of value within global financial systems.
Meanwhile, the notorious hacker known as the “Blockchain Bandit,” who is infamous for stealing 51,000 Ether by exploiting weak private keys, has resurfaced. After two years of inactivity, the hacker moved the stolen funds into a single wallet. This activity has raised eyebrows within the cryptocurrency community, as such large transfers often indicate potential offloading or laundering of the assets.
These developments underscore the dynamic nature of the cryptocurrency ecosystem, reflecting shifts in both regulation and market activity.
