Bitcoin climbs to record high
Rally was driven by increasing expectations it will become a mainstream payment method.PHOTO: AFP
Bitcoin climbed to a record high on Wednesday, and the first US bitcoin futures-based exchange-traded fund (ETF) gained after a solid debut on Tuesday.
The world’s leading cryptocurrency was up 3.3% at $66,364.72, after reaching a record of $67,016.50, topping the $64,895.22 hit on April 14 this year.
Tuesday was the first day of trading for the ProShares Bitcoin Strategy ETF - a development market participants say is likely to drive investment into the digital asset.
The ETF closed up 2.59% at $41.94 from its opening price of $40.88 on Tuesday and continued its ascent on Wednesday, last up 3.76% at $43.52.
The Valkyrie Bitcoin Strategy ETF, expected to debut on the Nasdaq Wednesday, appeared to be delayed after its prospectus was amended in a filing with the Securities and Exchange Commission.
Published in The Express Tribune, October 21st, 2021.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.