Bitcoin ETFs Surpass $10 Billion In Just One Month - Massive Market Growth Expected

by BSC News

February 18, 2024


As expected, Bitcoin ETFs surpassed expectations after approval by surpassing $10 Billion. The one-month results indicate massive institutional demand.

Within one month of the launch, Bitcoin ETFs hit a major milestone by surpassing $10 billion. This performance of the Bitcoin ETFs resulted in a tremendous positive impact on the market, with altcoins surging to new heights. According to data from Forbes, the global cryptocurrency market cap crossed $2.05 Trillion, with a 5.4% change. 

With inflows continuing to expand for Bitcoin ETFs, leading altcoins are expected to rally even further. This growth is driven by numbers from leading Bitcoin ETFs that recently came out. 

BlackRock's iShares Bitcoin Trust IBIT and Fidelity's Wise Origin Bitcoin Fund FBTC led with impressive AUMs of $4 billion and $3.4 billion, respectively. These were followed by ARK 21 Shares Bitcoin ETF ARKB, which crossed the $1 billion threshold, and Bitwise Bitcoin Fund BITB, which has accumulated $693.4 million since its debut. Meanwhile, the Grayscale Bitcoin Trust GBTC has seen a deceleration in outflows.

This surge is a positive sign of the growing trend of institutional investment in Bitcoin as it signifies increased interest in Bitcoin. It has become easier for investors to gain exposure to Bitcoin without directly owning the assets. This has increased the number of inflows in the market, resulting in an upward trajectory for leading assets.

Bitcoin ETFs have resulted in a major bullish impact on leading DeFi projects as well. One of these projects is Algotech (ALGT), a promising new project with great performance.

Let's have a look at Algotech (ALGT) and why it’s the new talk of the crypto town.

Algotech (ALGT) Expected to Surge After Investors Flock Into Presale

One month into the launch, Bitcoin ETFs have exceeded expectations along with a spillover effect into many altcoins. The entire market is showing upward momentum, including Algotech (ALGT), which is a cutting-edge TradFi project with exciting features. 

The platform is a decentralized algorithmic crypto trading avenue designed to facilitate the future of trading. The underlying features are backed by advanced machine learning and advanced algorithms. Traders can use the platform for features including hedging, momentum trading, mean reversion, trading bots, social trading features, and algorithmic consolidation.

Algotech (ALGT) initially made headlines for its successful private seed round that saw the platform raise over $1.1 Million within two days. The project is now in its presale stage, and investors are flocking at the change to grab ALGT tokens for $0.04. Analysts expect this price to surge up to $1 once the project is listed on mainstream exchanges. 

Additionally, the project is expected to give significant governance rights to holders. Community members will have ownership stakes, profit shares, and other exciting benefits. 

Driven by these benefits, Algotech (ALGT) is outshining many altcoins, including Jupiter (JUP), Cardano (ADA), and Polygon (MATIC). 

You can find more details about this project:

Visit Algotech Presale

Join The Algotech Community

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