{"id":574878,"date":"2024-02-13T21:00:01","date_gmt":"2024-02-13T21:00:01","guid":{"rendered":"https:\/\/wncen.com\/?p=574878"},"modified":"2024-06-11T08:15:37","modified_gmt":"2024-06-11T08:15:37","slug":"bitcoin-break-wall-street-records-whales-are-here","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-break-wall-street-records-whales-are-here\/","title":{"rendered":"Bitcoin Continues To Break Wall Street Records: The Whales Are Here"},"content":{"rendered":"

Bitcoin is making waves on Wall Street, with BlackRock and Fidelity, two of the popular spot Bitcoin exchange-traded funds (ETF) issuers shattering records. Looking at recent trends, spot Bitcoin ETFs are surging in popularity, indicating that institutional investors, or “whales,” are diving headfirst.<\/span><\/p>\n

Fidelity And BlackRock Spot Bitcoin ETFs Break Wall Street Record<\/span><\/h2>\n

Mark Wlosinski, a crypto commentator, took to X on February 12,\u00a0<\/span>highlighting<\/span><\/a> the meteoric rise of BlackRock (IBIT) and Fidelity (FBTC) Bitcoin spot ETFs. Both have amassed a staggering $3 billion in assets under management (AUM) within 30 days. This feat is historic, marking the first time an ETF of any product has achieved such rapid growth in such a short period.<\/span><\/p>\n

\"IBIT
IBIT and FBTC top spot ETFs | Source: Mark Wlosinski on X:<\/figcaption><\/figure>\n

This unprecedented demand for spot Bitcoin ETFs comes amidst a broader trend of institutional adoption. Wlosinski notes that over 5,500 ETFs have been launched throughout history. However, none have yet witnessed the level of enthusiasm currently surrounding spot Bitcoin ETFs.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Records 2,500% Spike In Whale Activity, SHIB Price About To Skyrocket?<\/a><\/div>\n

The pace at which BTC AUM of spot ETF issuers continues to grow suggests a significant shift in investor sentiment. Specifically, Wall Street is increasingly recognizing BTC’s potential as a viable asset class. <\/span><\/p>\n

For years, leading Wall Street executives, including Jamie Dimon, the head of JP Morgan, dismissed<\/a> the coin, saying it was speculative and a scam. However, with the United States Securities and Exchange Commission (SEC) approving spot Bitcoin ETFs after more than ten years of rejecting the product, there appears to be a seismic shift in the investment landscape.<\/span><\/p>\n

As of February 12, Lookonchain data\u00a0<\/span>shows<\/span><\/a> that Fidelity and Ark21 Shares bought an additional 6,822 BTC worth over $339 million. BlackRock’s IBIT remains the largest spot BTC ETF by AUM, controlling over 87,780 BTC. However, spot ETF issuers continue to accumulate, pushing their total haul to 682,448 BTC.\u00a0<\/span><\/p>\n

\"Spot
Spot Bitcoin ETF issuers accumulating | Source: Lookonchain via X<\/figcaption><\/figure>\n

BTC Retests $50,000, Path To November 2021 Highs?<\/span><\/h2>\n

Since spot Bitcoin ETFs track the spot price, the more spot ETF issuers buy, the higher the demand for the coin becomes. Accordingly, rising demand has significantly impacted prices, as the daily chart shows. So far, Bitcoin is trading close to the psychological $50,000 mark, the highest level since 2024.\u00a0<\/span><\/p>\n

\n
\"Bitcoin<\/a>
Bitcoin price trending upward on the daily chart | Source: BTCUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n<\/div>\n

Technically, the uptrend remains, and buyers are firmly in control. If buyers double down, buy more, and take more coins out of the reach of spot ETF issuers, Bitcoin will likely float to $70,000 or better in the sessions ahead.<\/span><\/p>\n

Related Reading: SOL Price Surges To $115 \u2013 Why Solana Could Rally Another 10%<\/a><\/p>\n

Feature image from Shutterstock, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin is making waves on Wall Street, with BlackRock and Fidelity, two of the popular spot Bitcoin exchange-traded funds (ETF) issuers shattering records. Looking at recent trends, spot Bitcoin ETFs are surging in popularity, indicating that institutional investors, or “whales,” are diving headfirst. Fidelity And BlackRock Spot Bitcoin ETFs Break Wall Street Record Mark Wlosinski, a crypto commentator, took to X on February 12,\u00a0highlighting the meteoric rise of BlackRock (IBIT) and Fidelity (FBTC) Bitcoin spot ETFs. Both have amassed a staggering $3 billion in assets under management (AUM) within 30 days. This feat is historic, marking the first time an ETF of any product has achieved such rapid growth in such a short period. This unprecedented demand for spot Bitcoin ETFs comes amidst a broader trend of institutional adoption. Wlosinski notes that over 5,500 ETFs have been launched throughout history. However, none have yet witnessed the level of enthusiasm currently surrounding spot Bitcoin ETFs.\u00a0 Related Reading: Shiba Inu Records 2,500% Spike In Whale Activity, SHIB Price About To Skyrocket? The pace at which BTC AUM of spot ETF issuers continues to grow suggests a significant shift in investor sentiment. Specifically, Wall Street is increasingly recognizing BTC’s potential as a viable asset class. For years, leading Wall Street executives, including Jamie Dimon, the head of JP Morgan, dismissed the coin, saying it was speculative and a scam. However, with the United States Securities and Exchange Commission (SEC) approving spot Bitcoin ETFs after more than ten years of rejecting the product, there appears to be a seismic shift in the investment landscape. As of February 12, Lookonchain data\u00a0shows that Fidelity and Ark21 Shares bought an additional 6,822 BTC worth over $339 million. BlackRock’s IBIT remains the largest spot BTC ETF by AUM, controlling over 87,780 BTC. However, spot ETF issuers continue to accumulate, pushing their total haul to 682,448 BTC.\u00a0 BTC Retests $50,000, Path To November 2021 Highs? Since spot Bitcoin ETFs track the spot price, the more spot ETF issuers buy, the higher the demand for the coin becomes. Accordingly, rising demand has significantly impacted prices, as the daily chart shows. So far, Bitcoin is trading close to the psychological $50,000 mark, the highest level since 2024.\u00a0 Technically, the uptrend remains, and buyers are firmly in control. If buyers double down, buy more, and take more coins out of the reach of spot ETF issuers, Bitcoin will likely float to $70,000 or better in the sessions ahead. Related Reading: SOL Price Surges To $115 \u2013 Why Solana Could Rally Another 10% Feature image from Shutterstock, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":571818,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,7720,1119,78790,2029,3799,84647],"class_list":["post-574878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-blackrock","tag-btc","tag-btcusdt","tag-fidelity","tag-sec","tag-spot-bitcoin-etf"],"acf":[],"yoast_head":"\nBitcoin Continues To Break Wall Street Records: The Whales Are Here<\/title>\n<meta name=\"description\" content=\"Bitcoin is making waves on Wall Street, with BlackRock and Fidelity ETFs shattering records. 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His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Continues To Break Wall Street Records: The Whales Are Here","url":"http:\/\/wncen.com\/news\/bitcoin-break-wall-street-records-whales-are-here\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-break-wall-street-records-whales-are-here\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/shutterstock_1268504080_cf8319.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/shutterstock_1268504080_cf8319.jpg?fit=4532%2C3022"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","blackrock","btc","btcusdt","fidelity","sec","spot bitcoin etf"],"dateCreated":"2024-02-13T21:00:01Z","datePublished":"2024-02-13T21:00:01Z","dateModified":"2024-06-11T08:15:37Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Continues To Break Wall Street Records: The Whales Are Here\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-break-wall-street-records-whales-are-here\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-break-wall-street-records-whales-are-here\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/shutterstock_1268504080_cf8319.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/shutterstock_1268504080_cf8319.jpg?fit=4532%2C3022\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"blackrock\",\"btc\",\"btcusdt\",\"fidelity\",\"sec\",\"spot bitcoin etf\"],\"dateCreated\":\"2024-02-13T21:00:01Z\",\"datePublished\":\"2024-02-13T21:00:01Z\",\"dateModified\":\"2024-06-11T08:15:37Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/shutterstock_1268504080_cf8319.jpg?fit=4532%2C3022","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/574878"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=574878"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/574878\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/571818"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=574878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=574878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=574878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}