In an accumulation attributed to growing institutional investors’ demand, the total United States-based spot Bitcoin ETF holdings now stand at nearly $110 billion, an all-time high accounting for more than 5.7% of the circulating supply.
The spot Bitcoin ETFs in the U.S. grew unimaginably during 2024, when Bitcoin surged past the price of $100,000. According to data from Dune Analytics, the present ETFs require an additional $2.2 billion to touch the $110 billion mark.
BlackRock, the world’s largest asset manager, continues to dominate the Bitcoin ETF market with its iShares Bitcoin Trust ETF. The fund currently holds more than 542,000 BTC, worth $51.5 billion, which is 47.9% of the market share of U.S.-based Bitcoin ETFs. That makes BlackRock’s ETF the 34th largest in the world across both cryptocurrency and traditional finance markets, according to ETF Database.
Bitcoin ETFs Drive Growth, $200K Prediction Gains Momentum
The ETFs have been instrumental to Bitcoin’s surge, especially at its peak of $100,000. U.S. spot ETFs accounted for about 75% of new Bitcoin investments that pushed the price past $50,000 by mid-February 2024.
Analysts are rather optimistic about its further growth, predicting as much as $200,000 in 2025. According to Ryan Lee, chief analyst at Bitget Research, BlackRock’s ETF will make access easier for institutional investors and thus catalyze wider adoption and significant price appreciation.
“Long-term projections suggest sustained growth, with some forecasts placing Bitcoin’s value at $200,000 by 2025.”
While the $200,000 projection is plausible, it depends upon regulatory clarity, market condition, and global economic trend,” Lee warned.
The current price is hovering around the psychological level of $100,000, with heavy resistance at $97,600 and $99,000. According to data provided by CoinGlass, a continuation above $99,000 may induce the liquidation of over $1 billion worth of leveraged short positions, which could allow for a more confident rally.
While institutional investments in Bitcoin ETFs continue unabated, their impact on the cryptocurrency market has become increasingly apparent. Leading the charge is industry heavyweight BlackRock, which, with over $10 billion in ETF holdings, simply seals the deal on Bitcoin’s greater integration into mainstream finances.
Whether Bitcoin will ultimately reach that ambitious $200,000 target in 2025 is anyone’s guess. Still, its trajectory does reflect the increasingly confident stances institutional players are taking on the cryptocurrency’s long-term potential.
