Bitcoin whale ETF soars to record as crypto races

Published On Nov 14, 2024, 5:00 AM

The iShares Bitcoin Trust ETF (IBIT) has reached record highs, driven by a significant rise in Bitcoin's value, which has increased by nearly 150% from its 52-week low since November 2023. The ETF has gained 38% in just seven days, marking its longest winning streak on record. It's now seen as the fastest growing ETF ever, with anticipated positive regulatory developments for cryptocurrencies under a pro-crypto Biden administration. The ETF has also attracted over $3 billion in assets since its launch, demonstrating strong investor interest and increased trading volume.