Bitcoin Surges on Speculation of Imminent ETF Launch
Bitcoin and other cryptocurrencies continued to surge in Asia trade, with Bitcoin reaching an almost 18-month high on speculation of an imminent exchange-traded fund (ETF). The rise in Bitcoin and crypto-linked shares such as Coinbase Global and MicroStrategy is seen as a result of the potential demand that an ETF would bring.
Investment giant BlackRock is among several firms with pending applications for bitcoin funds in the US, and speculation on their likely approval was fuelled by BlackRock's iShares ETF listing on the website of clearing house DTCC. The move also comes as concern ripples through the broader markets about the risk of Israel's war with the Islamist group Hamas becoming a wider regional conflict.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Solana’s New Inflation Overhaul Proposal Fails, Stakeholders Say Vote Signals Strong Community Engagement
A proposal to revamp Solana’s inflation system has been rejected by stakeholders, yet it is being celebrated as a milestone for the network’s governance.
Telegram Founder's Departure Triggers 67% Spike in Toncoin Trading
XRP Price Surges Against Ether, Fueling Speculation of Market Cap Flip
Trending news
MoreCrypto prices
More
