Bitcoin reached a record high of $68,978, surpassing its previous record of $68,789 set in November 2021. This surge has been driven by a series of bitcoin exchange-traded funds (ETFs) which began trading in January, exceeding expectations and triggering anticipation of a record-breaking year.

Several money managers predict the digital asset could surpass $100,000 by the end of 2024. Other cryptocurrencies and related stocks are also rising, with Ether outperforming Bitcoin by over 7% since the start of the year.

The ETFs launched in January have attracted nearly $8 billion from investors in two months, benefiting major crypto trading platforms like Coinbase and Robinhood. BlackRock’s Bitcoin ETF now manages $10 billion in total assets, which may soon reach $20 billion due to Bitcoin’s rising price.