Bitcoin experienced a surge of about 25% to reach a high not seen in over a year on 23 June, hitting $31,458. The rise of Bitcoin price has been partially driven by BlackRock’s recent announcement of its intent to introduce a Bitcoin exchange-traded fund (ETF). As the world’s largest asset manager, BlackRock’s proposed iShares Bitcoin Trust, with Coinbase as its custodian, is set to provide institutional investors with Bitcoin exposure. This news, coupled with EDX Markets’ announcement of allowing trading on some crypto, has reignited investor interest in cryptocurrencies.
Source: https://www.reuters.com
