Bitcoin Hits New High, ETF Surpasses $55 Billion, Top 10 Cryptocurrencies in Harmony
Yesterday, Bitcoin reached a new all-time high, starting from 68,000 USD in Taiwan’s afternoon time and continuing to rise throughout the US trading hours, reaching a peak of 72,800 USD. Although Grayscale’s GBTC saw a net outflow of 494.1 million USD on March 11, the overall ETF market still showed a steady upward trend. Currently, the top ten Bitcoin spot ETFs have over 55 billion USD in assets.
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Bitcoin spot ETF assets exceed 55 billion USD
Top ten cryptocurrencies by market capitalization
Grayscale’s GBTC saw a net outflow of 494.1 million USD on March 11, and has converted into ETF with a total outflow of approximately 11 billion USD, with the current asset size being 28 billion USD.
According to Eric Balchunas, an ETF analyst at Bloomberg, the top ten Bitcoin spot ETFs currently have over 55 billion USD in assets. BlackRock’s IBIT has reached an asset size of 13.5 billion USD, ranking second in terms of inflows this year, only behind the US large-cap stock ETFs VOO (Vanguard S&P 500 ETF) and IVV (iShares Core S&P 500 ETF). Fidelity’s FBTC ranks fourth, with an asset size of 8.6 billion USD.
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Additionally, VanEck has once again lowered its fees to compete in the market, announcing that investments in its Bitcoin ETF HODL before March 31, 2025 will be exempt from management fees. Yesterday, the asset size of HODL officially surpassed 3.1 billion USD.
All of the top ten cryptocurrencies by market capitalization are showing an upward trend. Ethereum’s trend is similar to Bitcoin’s, reaching a recent high of 4,094 USD. However, it has not reached a new all-time high like Bitcoin and still needs to increase by 20% to reach its end-of-year high of 4,868 USD.
BNB has successfully crossed the $500 mark, and the recent launch of Launchpool by Binance may be a significant driver for BNB. It is only 23% away from its all-time high of 690 USD.
(Binance Shakes Off Clouds! BNB Returns to $500 After Two Years, Launchpool Rejuvenates Momentum?)
Further reading:
Boyaa’s cryptocurrency investment gains nearly 50 million USD, plans to invest an additional 100 million USD in BTC and ETH
Bitcoin breaks new all-time high! Soars and then drops, wiping out nearly 1.2 billion USD.
