Improved prospects for purchasing Bitcoin funds trading on stock exchanges rather than on less-regulated cryptocurrency platforms briefly pushed the price of Bitcoin above US$35,000 on Tuesday for the first time since May 2022, before easing to around $34,000 on Wednesday, say analysts.
Notoriously volatile, Bitcoin has more than doubled in value this year and shot up again after news emerged that the BlackRock Inc exchange-traded fund (ETF) for Bitcoin appeared on a list controlled by the Depository Trust and Clearing Corp (DTCC), a Nasdaq-operated clearing house for stocks and ETFs, said Mana Khanijou, head of commercial and investment consulting at Merkle and Elkrem Capital.
BlackRock, one of the world’s largest asset managers, registered a Bitcoin spot ETF in June, which is pending approval. The company is the largest provider of ETFs in the world,…
