PORTLAND – Bitcoin on Tuesday topped US$28,000 for the first time in June on the tailwind from BlackRock’s application to start a US exchange-traded fund (ETF).
The largest digital asset at one point added 5.3 per cent to hit a more than two-week high of US$28,142 during New York trading. Smaller coins such as Ether and BNB posted relatively small gyrations.
BlackRock filed for a spot Bitcoin ETF with the US Securities and Exchange Commission (SEC) on June 15. The SEC has resisted allowing such spot funds, but the latest attempt carries the heft of the world’s largest asset manager.
“The BlackRock ETF application seemed to have ignited the rally, but there’s clearly more behind it,” said crypto investor Aaron Brown.
Meanwhile, EDX Markets, a new crypto exchange backed by companies including Citadel Securities, Fidelity Digital Assets and Charles Schwab, said it has gone live, a move that could reshape the digital-asset landscape amid heightened US scrutiny of the sector.
Deutsche Bank also said it has applied for regulatory permission to operate a custody service for digital assets such as cryptocurrencies.
“Traditional incumbents are now seeing an opportunity to grab market share with the Citadel/Fidelity launch of EDX today and Deutsche Bank applying for a digital-asset custody licence in Germany,” said Arca trader Kyle Doane.
Image by: Reuters
