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Bitcoin Market Update
Bitcoin’s value has dropped over 30% from its all-time high set in early October 2023, now standing at a market cap of around $1.7 trillion. The swift decline over the past six weeks reflects a significant sell-off, contrasting a preceding surge that saw Bitcoin rise from approximately $40,000 to over $126,000 within less than two years.
iShares Bitcoin Trust ETF Launch
On January 5, 2024, BlackRock launched the iShares Bitcoin Trust ETF (NASDAQ: IBIT), which holds 100% Bitcoin and has attracted over $67 billion in net assets. Currently, the ETF contains 776,293.17 Bitcoin, roughly 4% of the total circulating supply of 19.95 million Bitcoins.
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