Dubbed 'crypto winter,' the unforgiving market crushed the hopes of many traders, startup founders, and investors. The US SEC's successive approvals of eleven spot BTC ETF applications on January 10, 2024, changed all perspectives, turning many bullish.
The resulting billions of dollars in inflows broke ETF records and were a massive, unexpected win for Bitcoin. Allocations to US spot Bitcoin ETFs overwhelmed hundreds of millions in outflows to incumbent fund Grayscale Bitcoin Trust (GBTC), raking in over $2.4 billion in the first week.
Collection
[
|
...
]