BTC Surges 2.21% to $109K as Institutional Holdings Jump and SEC Approves Spot ETF

Bitcoin (BTCUSDT) has risen 2.21% over the past 24 hours, with the current price at $109,246.00 and a 24-hour open of $106,879.60 on Binance. The price increase is attributed to renewed institutional interest, highlighted by an 18% quarterly rise in institutional holdings and an 8% increase in ETF holdings, as well as the U.S. SEC's approval of Grayscale's Digital Large Cap Fund conversion to a spot ETF, where Bitcoin represents about 80% of assets. Additional support comes from significant corporate accumulation and positive sentiment following Metaplanet Inc.'s strategic focus on Bitcoin, alongside notable market activity such as large transfers to exchanges and increased trading volumes. Over the last 24 hours, Bitcoin traded between $105,100 and $109,730, with a Binance 24-hour volume of approximately 1.92 billion USDT, maintaining its position as the leading cryptocurrency by market capitalization at $2.175 trillion and a market dominance of 62.14%.