Bitcoin has surged 35% since ETF launch in January. What's next for investors

economictimes.indiatimes.com:

exchange-traded fund (ETF), the world's largest cryptocurrency Bitcoin (in value terms) has surged 35%. This uptrend has been fuelled by a combination of factors, primarily the increased accessibility and legitimacy provided by the ETFs.

Bitcoin's price surged from $46,106 on January 10, 2024, to $62,500 on March 1, 2024. This surge represents a 35% increase in just under two months.

The US securities regulator approved the first US-listed exchange-traded funds (ETFs) on 10th January to track Bitcoin, marking a watershed moment for the world's largest cryptocurrency and the broader crypto industry.

Edul Patel, CEO of Mudrex, noted that the approval of spot Bitcoin ETFs ignited a surge in momentum for the cryptocurrency. This surge was fuelled by institutional interest and anticipation surrounding the impending Bitcoin halving event. Edul highlighted substantial inflows into spot Bitcoin ETFs, which propelled Bitcoin's price on a steady climb, ultimately leading to its 35% surge.

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Mudrex CEO further stated, «This Wednesday marked a significant milestone, with a new daily record in trading volume exceeding $7.7 billion across ten spot Bitcoin ETFs. BlackRock's spot Bitcoin ETF alone traded $3.3 billion, doubling its previous volume record. If this momentum persists, it is likely Bitcoin will soon surpass its previous