Bitcoin Surges Past $120,000 for First Time as BlackRock ETF Drives Investor Inflows
Bitcoin reached a historic milestone Monday, breaking above $120,000 for the first time as investor enthusiasm around BlackRock’s Bitcoin ETF continued to fuel a powerful rally.
The world’s largest cryptocurrency climbed as high as $123,000 in early trading, extending its year-to-date gains and reflecting renewed confidence in digital assets among both institutional and retail investors. The surge comes on the heels of significant inflows into BlackRock’s iShares Bitcoin Trust (IBIT), which has attracted billions of dollars since its launch.
The ETF, which allows investors to gain exposure to Bitcoin without directly holding the cryptocurrency, has quickly become a favorite on Wall Street. Over the past week alone, IBIT saw inflows of $2.4 billion, according to industry data. Analysts say the ease of access, regulatory oversight, and liquidity offered by the ETF have helped drive a new wave of adoption.
“BlackRock’s ETF has changed the game for Bitcoin,” said a senior strategist at a leading investment firm. “It’s opened the door for a broader range of investors, from pension funds to individual savers, who were previously hesitant to enter the crypto market.”
The rally comes amid a broader shift in the regulatory landscape. Lawmakers in Washington are debating new legislation aimed at providing clarity for the crypto industry, while major political figures have voiced support for digital assets. These developments have further boosted sentiment and contributed to the market’s momentum.
Other cryptocurrencies have also benefited from the surge. Ethereum, the second-largest digital asset, rose above $3,000, marking a 20% gain over the past week.
With Bitcoin’s market capitalization now surpassing $2.4 trillion, some analysts predict the rally could continue, especially if regulatory clarity improves and institutional demand remains strong. However, they caution that the market remains volatile and investors should be prepared for significant price swings.
The rapid ascent of Bitcoin and the popularity of BlackRock’s ETF signal a new era for cryptocurrency, as digital assets move further into the financial mainstream.
