Bitcoin ETFs Surge As King Crypto Hits $106,000

Bitcoin‘s BTC/USD recent surge to an unprecedented $106,000 has led to a notable rise in Bitcoin-based ETFs. This upward movement has positively impacted several ETFs, although Bitcoin has since slightly decreased to $104,008.20.

What Happened: Among the ETFs experiencing gains, Bitwise Bitcoin ETF BITB rose by 2.35%, while iShares Bitcoin Trust ETF IBIT increased by 2.37%. The Grayscale Bitcoin Trust GBTC also saw a 1.77% rise. Additionally, the Fidelity Wise Origin Bitcoin Fund FBTC grew by 2.36%, and the ARK 21Shares Bitcoin ETF ARKB rose by 2.40%. These increases reflect the broader impact of Bitcoin’s price surge on related financial products.

See Also: Bitcoin To $180,000, Ethereum Over $6,000, Solana To $500: VanEck’s 2025 Crypto Predictions

Why It Matters: The cryptocurrency’s remarkable ascent to $106,000 comes amid heightened investor optimism, driven by expectations of another interest rate cut. This optimism has not only fueled Bitcoin’s rally but also led to significant gains for other cryptocurrencies like Ethereum, which surpassed $4,000 before a slight pullback.

The surge in Bitcoin has been significantly bolstered by increased holdings from whale investors, as revealed by on-chain data. Since the bull rally began on October 10, there has been a net increase of 1,582 wallets holding at least 100 BTC, according to blockchain analysis firm Santiment. This represents a nearly 10% increase in such wallets over nine weeks, during which Bitcoin’s value climbed by 77%.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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