iShares Bitcoin Trust ETF (IBIT)
Company News
The article explores the dynamics of Bitcoin ETFs, focusing on iShares and Grayscale Bitcoin Trusts, highlighting how fund flows, asset management fees, and investor preferences impact ETF performance.
Bitcoin and Ethereum have experienced significant price surges, with Bitcoin reaching new highs above $123,000 and Ethereum rising nearly 50% in a month. Several crypto-related stocks and ETFs are gaining traction, offering investors multiple ways to gain exposure to the cryptocurrency market.
Bitcoin surged to $118,000 during Asian trading hours, rising over 24% this year due to favorable factors like Bitcoin ETF launches and continued institutional entry. Several cryptocurrency and tech companies saw stock price increases as a result.
The November PCE index rose 2.4% annually, undershooting the 2.5% forecast, easing market jitters. However, traders remain cautious as the Fed maintains a hawkish stance, with the central bank reiterating its commitment to achieving the 2% inflation target.
Wall Street has delivered a moderate performance in the second quarter of 2024.