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The year 2024 has proven to be a significant one for the cryptocurrency market, marked by important developments. The approval of Spot Bitcoin 
$106,876 ETFs by the U.S. Securities and Exchange Commission (SEC) has generated considerable buzz. Notably, BlackRock’s Spot Bitcoin ETF fund, with over $51 billion in assets, has attracted widespread attention. These advancements set the stage for Bitcoin’s rise and greater institutional adoption.
Spot Bitcoin ETFs and Institutional Investments
In January, the SEC approved 11 Spot Bitcoin ETFs, sparking a wave of adoption in the crypto market. BlackRock’s iShares Bitcoin Trust fund demonstrated a successful performance during this period, accumulating $51.2 billion in assets. Overall, ETFs accounted for 5.37% of the Bitcoin supply, surpassing $100 billion, which piqued the interest of institutional investors.
Major financial institutions such as Morgan Stanley and UBS entered the market with new ETFs and funds. Donald Trump’s victory in the presidential election also played a role in Bitcoin reaching $108,000 in December.
Trump’s Policies and Global Investments
Donald Trump’s victory in the November 2024 presidential election significantly impacted the cryptocurrency market. Upon his election, Trump pledged to position the U.S. as a global crypto leader. By the end of the year, Bitcoin prices surged rapidly alongside Trump’s statements.
Following the election win, interest from Bitcoin investors increased. Additionally, the approval of Spot ETFs for Bitcoin and Ethereum 
$2,537 globally facilitated further growth in the crypto market. Local Bitcoin and Ethereum ETFs were approved in Hong Kong, and Germany offered 50,000 BTC for sale in March.
In 2024, the SEC also permitted options trading for some Spot Bitcoin ETFs. These steps created a positive atmosphere in the markets, resulting in a 118% annual increase in Bitcoin’s value.
