BlackRock’s iShares Bitcoin Trust (IBIT) made a significant impact on its debut day, recording $1.9 billion in trades. This launch has sparked a bullish trend in Bitcoin prices. The cryptocurrency is nearing its all-time high (ATH) after previously dipping to $87,000.
The surge in Bitcoin prices is largely attributed to IBIT being the first spot Bitcoin ETF to receive approval for options trading. This approval has brought optimism among investors and traders, driving Bitcoin's value to climb further.
As a result of the ETF's strong performance and market approval, Bitcoin is now eyeing the $100,000 mark, heightening interest and confidence in the cryptocurrency market. The success of BlackRock's ETF underscores the growing acceptance and integration of Bitcoin into mainstream financial products.
