2024 has been a year full of important developments for the cryptocurrency market. US Securities and Exchange Commission (SEC)’s Spot Bitcoin $93,885.9 Its approval of ETFs caused a stir in the market. In particular, BlackRock’s Spot Bitcoin ETF fund attracted attention with savings exceeding $51 billion. These developments paved the way for Bitcoin’s rise and institutional adoption.
Spot Bitcoin ETFs and Institutional Investments
In January, the SEC approved 11 Spot Bitcoin ETFs. This decision started a huge wave of adoption in the cryptocurrency market. BlackRock’s iShares Bitcoin Trust fund performed successfully during this period and accumulated $51.2 billion.
In total, ETFs account for 5.37% of Bitcoin supply, exceeding $100 billion. These developments increased the interest of institutional investors. Major financial institutions such as Morgan Stanley and UBS have entered the market with new ETFs and funds. Trump’s victory in the presidential election was also effective in Bitcoin reaching $108,000 in December.
Trump’s Policies and Global Investments
Donald Trump’s victory in the presidential election held in November 2024 had a significant impact on the cryptocurrency market. After being elected, Trump promised to make the US the global crypto leader. Towards the end of the year, Bitcoin prices rose rapidly with Trump’s statements.
Following the election victory, interest from Bitcoin investors increased. Additionally, Bitcoin and Ethereum globally 
$3,383.9 The approval of spot ETFs has helped the cryptocurrency market grow further. Local Bitcoin and Ethereum ETFs were approved in Hong Kong, while Germany also offered 50,000 BTC for sale in March.
In 2024, the SEC also allowed options trading for some Spot Bitcoin ETFs. These steps created a positive atmosphere in the markets and enabled Bitcoin to gain 118% in value on an annual basis.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
