The cryptocurrency market is witnessing significant developments in 2024, with a particular focus on Bitcoin ETFs (Exchange-Traded Funds). Bitcoin's price has been fluctuating around the $52,000 mark, showing resilience despite a dip on Valentine's Day. The market's bullish sentiment is supported by the launch of new Bitcoin ETFs, which have collectively secured 264,232 BTC worth $13.5 billion in just five weeks. BlackRock's IBIT leads this surge, having acquired 264,232 BTC. This influx of investment into Bitcoin ETFs is seen as a positive sign for the cryptocurrency's future, with BlackRock's spot Bitcoin ETF alone amassing $5.2 billion year-to-date (YTD), representing 50% of BlackRock's total net flows across its 417 ETFs. Additionally, the ETFs have seen higher net flows than any other ETF category last week, with $3 billion flowing into Bitcoin ETFs in recent days. The market is also anticipating the approval of an Ethereum spot ETF by the end of March 2024, further indicating the growing interest and confidence in cryptocurrency-based investment products.