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Bitcoin, the world's largest cryptocurrency, is once again under the spotlight as it surges to heights not seen in a year. The digital currency soared to $35,000 last week, more than double the price seen at the start of 2023. This marks a remarkable ascent that reflects a high level of investor enthusiasm.

The confluence of regulatory developments, advancing technology and positive market sentiment drove the crypto’s thrilling ascent to new highs. The surge has rekindled interest in the crypto market, signaling positive sentiment among both retail and institutional investors. This is especially true as the rally is driving gains not only in Bitcoin itself but also in related assets and equities.

We have highlighted five ETFs that have been leading the way higher, gaining more than 13% over the past week. These include Bitwise Bitcoin Strategy Optimum Roll ETF (BITC - Free Report), Hashdex Bitcoin Futures ETF (DEFI - Free Report), VanEck Bitcoin Strategy ETF (XBTF - Free Report), ProShares Bitcoin Strategy ETF (BITO - Free Report) and Valkyrie Bitcoin Strategy ETF (BTF - Free Report).

One of the most notable drivers behind Bitcoin's recent surge is the growing anticipation surrounding the approval of Bitcoin ETFs in the United States. Speculation has risen that regulatory authorities may soon greenlight Bitcoin ETFs, providing a significant boost to the cryptocurrency's price. Such a development would not only legitimize Bitcoin in the eyes of mainstream investors but also provide a more accessible avenue for investment, thereby potentially attracting a fresh influx of capital into the crypto market.

Additionally, the Options market positioning suggests that Bitcoin's price has further room to grow, indicating a bullish sentiment prevailing in the market. This sentiment is likely bolstered by the broader acceptance and adoption of cryptocurrencies, propelled by notable advancements in blockchain technology and increasing recognition of crypto assets by traditional financial institutions.

Further, the crypto-linked stocks have followed bitcoin's upward trajectory, reflecting a ripple effect across the broader financial ecosystem. The optimism underscores the robust appeal of Bitcoin and the broader crypto space, presenting a myriad of investment opportunities.

ETFs in Focus

Bitwise Bitcoin Strategy Optimum Roll ETF (BITC)

Bitwise Bitcoin Strategy Optimum Roll ETF provides directional exposure to bitcoin via regulated futures contracts and seeks to maximize potential roll returns through a selective analysis of bitcoin futures beyond front- or near-month contracts. The fund does not invest directly in Bitcoin.

Bitwise Bitcoin Strategy Optimum Roll ETF has attracted $1.3 million in its asset base. It charges 85 bps in annual fees and trades in an average daily volume of 1,000 shares.

Hashdex Bitcoin Futures ETF (DEFI)

Hashdex Bitcoin Futures ETF does not invest directly in Bitcoin but provides price exposure to the crypto asset through Bitcoin futures contracts. This gives investors the opportunity to capitalize on its growth potential, store of value characteristics, and the prospect of a decentralized future without the complexity of self-custody.

Hashdex Bitcoin Futures ETF has amassed $2.1 million in its asset base and charges 90 bps in annual fees.

VanEck Bitcoin Strategy ETF (XBTF)

VanEck Bitcoin Strategy ETF seeks capital appreciation by investing in bitcoin futures contracts. It is actively managed and offers exposure to bitcoin-linked investments through an accessible exchange-traded vehicle. XBTF does not invest in bitcoin or other digital assets directly and charges 76 bps in annual fees.

VanEck Bitcoin Strategy ETF has amassed $57.3 million in its asset base and trades in a volume of 13,000 shares a day on average.

ProShares Bitcoin Strategy ETF (BITO)

ProShares Bitcoin Strategy ETF invests primarily in bitcoin futures contracts and does not invest directly in bitcoin. It is the world's largest and most actively traded cryptocurrency ETF, with AUM of $1.1 billion and an average trading volume of 9 million shares. ProShares Bitcoin Strategy ETF charges 95 bps in annual fees.

Valkyrie Bitcoin Strategy ETF (BTF)

Valkyrie Bitcoin Strategy ETF is an actively managed ETF available through Nasdaq. It invests in bitcoin futures contracts and does not provide direct exposure to the price of bitcoin. BTF has accumulated $31.9 million in its asset base. Valkyrie Bitcoin Strategy ETF charges 95 bps in annual fees and trades in a volume of 185,000 shares a day on average.

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