In the world of cryptocurrency, BlackRock’s iShares Bitcoin Trust (IBIT) has emerged as the standout performer among US spot Bitcoin exchange-traded funds (ETFs) in 2024. Reports indicate that IBIT attracted over $37 billion in net inflows, significantly outpacing its nearest competitor, Fidelity’s Wise Origin Bitcoin Fund, which garnered nearly $12 billion. Across the market, spot Bitcoin ETFs in the US have drawn approximately $144 million in daily net inflows. However, Grayscale’s Bitcoin Trust (GBTC) experienced a substantial $20 billion in net outflows for the year. The influx of funds into ETFs accelerated following Donald Trump’s nomination for US presidency, with total net assets surpassing $100 billion for the first time.
Looking to the future, asset manager Franklin Templeton has forecasted a broadening of Bitcoin reserves worldwide in 2025. According to its digital assets outlook, the firm anticipates that more nations will adopt strategic Bitcoin reserves, affirming Bitcoin’s status as a digital store of value. This shift is expected to be driven by institutional and sovereign adoption of the cryptocurrency.
In another development, the notorious hacker known as Blockchain Bandit has made significant movements with stolen assets. After two years of dormancy, the hacker has consolidated 51,000 Ether, which were originally acquired through exploiting weak private keys, into a single wallet. The transfer, totaling approximately $172 million in Ether, was executed in batches and represents a notable event in the ongoing saga of high-profile cryptocurrency thefts.
