The bitcoin price just breached 100,000 USD for the first time since February this year and is close to its all-time high of USD 107,000 set in January. Bitcoin exchange traded products (ETPs) are likely to see money flowing into them as a result of the higher bitcoin price judging from the historical correlation. Cryptocurrencies are becoming more mainstream, especially since the US Securities and Exchange Commission greenlighted Bitcoin ETFs in January 2024. President Trump is also a supporter of the cryptocurrency industry having delivered the keynote address at the Bitcoin 2024 conference and even going as far as him launching a “meme coin”. More favorable regulation in the US and institutional parties getting more involved in cryptocurrencies and blockchain technology, coupled with ongoing and relentless innovation in blockchain projects, signal a positive outlook for the broader digital asset space.
Source: Bloomberg, May 2025.