Bitcoin has experienced a significant period of growth and innovation, with its price surpassing $100,000 by December 2024 and reaching $117,527 by August 16, 2025. This surge was largely influenced by the U.S. Securities and Exchange Commission's (SEC) approval of 11 spot Bitcoin exchange-traded funds (ETFs) in January 2024. This approval facilitated substantial price appreciation and increased institutional investment, with BlackRock's iShares Bitcoin Trust (IBIT) alone amassing over $50 billion in assets under management within its first year. Ethereum was trading at $4,429.97 on August 16, 2025, reflecting broader market trends.
The utility of Bitcoin has also expanded through technological integrations, such as the Ordinals protocol. The Pizza Ninjas project, for example, successfully inscribed a Super Nintendo Entertainment System (SNES) emulator onto the Bitcoin blockchain, aiming to preserve classic video games, with approximately 90% of such titles considered critically endangered. The Ninjalerts team spent six months inscribing the SNES emulator, showcasing the evolving capabilities of blockchain technology. Despite these advancements, debates continue regarding protocol modifications to block "inscriptions," though these proposals have not gained widespread developer support. The SEC's approval of Bitcoin ETFs has also paved the way for consideration of Ethereum ETFs, signaling growing institutional interest in the cryptocurrency market.