Major cryptocurrencies showed mixed trading on Sunday evening as traders monitored the inflows into the recently launched Bitcoin exchange-traded funds and anticipated the Bitcoin halving in April.
| Cryptocurrency | Gains +/- | Price (Recorded 9:30 p.m. EST) |
| Bitcoin (CRYPTO: BTC) | +0.66% | $42,201 |
| Ethereum (CRYPTO: ETH) | -0.75% | $2,,265 |
| Dogecoin (CRYPTO: DOGE) | -1.99% | $0.078 |
What Happened: Bitcoin has shown a steady upward trend over the weekend, suggesting sustained interest from bullish investors.
On Monday, Google is reportedly poised to implement updated policies that will permit the advertising of certain cryptocurrency products on the major search engine. The revision is expected to open the doors for the promotion of Bitcoin and exchange-traded funds.
Google will revise its advertising policy to accommodate ads from “advertisers offering Cryptocurrency Coin Trust targeting the United States.”
Reports are circulating that Google will be changing their policy and allowing #Bitcoin ETF ads starting on Jan 29th. Google processes 100K searches/sec 🤯 Bitcoin is going to have unprecedented levels of institutional and retail exposure. Prepare accordingly
— The ₿itcoin Therapist (@TheBTCTherapist) January 25, 2024
According to data presented by Bloomberg analyst James Seyffart on Jan. 26, the assets under management of BlackRock’s iShares Bitcoin Trust (IBIT) have surpassed the $2 billion milestone.
Obviously don’t have flows and full Volume numbers arent in yet for the #Bitcoin ETFs, but today was a big day for BlackRock’s $IBIT. Typically $GBTC is the far and away liquidity leader. Still the leader today but these other ETFs are catching up — particularly $IBIT. pic.twitter.com/BIWE54PlxK
— James Seyffart (@JSeyff) January 26, 2024
On Thursday, investors infused approximately $170 million into IBIT, leading to the acquisition of nearly 4,300 Bitcoin. Consequently, the total tokens held by the fund surged to 49,952, coinciding with the surge in the price of bitcoin, which escalated beyond the $40,000 mark early Friday.
This growth elevated the assets under management (AUM) to over $2 billion. Notably, with AUM surpassing $2 billion, IBIT now ranks as the third highest in asset accumulation among the 600 ETFs launched in the past year.
The next fund anticipated to exceed the $2…
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