🏦 El Salvador Approves Bitcoin-Only Investment Banks as BTC Targets $124K
Bitcoin is approaching $124,000, supported by institutional inflows and new regulatory frameworks.
Key Developments:
El Salvador has enacted a landmark law allowing licensed investment banks to operate exclusively in Bitcoin and other digital assets. These institutions require a Digital Asset Service Provider license and $50M in initial capital, aiming to attract global investment and strengthen the nation’s role as a crypto finance hub.
Harvard University has invested $116.6M in BlackRock’s IBIT spot Bitcoin ETF, purchasing 1.9M shares and signaling growing institutional confidence in BTC.
Japan’s entry into the spot Bitcoin ETF market faces delays due to regulatory hurdles, while US-based ETFs have already exceeded $54B in total inflows since early 2024.
Outlook:
Institutional adoption and nation-level initiatives are reinforcing Bitcoin’s long-term growth trajectory, setting the stage for potential new highs.
