Bitcoin was the best-performing asset in the first six months of the year, with the flagship digital asset rising more than 80% to close above $30,000 on June 30.

In the first half of the year, the crypto market dealt with the effect of the FTX collapse and last year’s collapse of several crypto-related firms. During this period, the industry also witnessed renewed institutional demand for BTC and the emergence of Ordinals on the blockchain network.

Amid these events, BTC’s price nearly doubled from around $16,000 to above $31,000, outperforming other significant assets like gold, S&P 500, Nikkei 225 index, and others.

Traditional Institutions Pile in for BTC Spot ETFs

On June 15, BlackRock, the largest asset management firm in the world with around $10 trillion worth of assets under management, applied for a Bitcoin spot ETF. This move triggered other institutions like
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Author: Oluwapelumi Adejumo

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