Bitcoin prices have doubled this year and potentially new ways to invest may drive prices higher
1 year, 1 month ago

Bitcoin prices have doubled this year and potentially new ways to invest may drive prices higher

Associated Press  

NEW YORK — Bitcoin is having another moment. A green light from federal regulators hasn’t arrived yet, but recent wins for some crypto fund managers with applications for bitcoin spot ETFs have improved odds for approval, perhaps in the coming months. Kaiko Research points to a brief spike in the price of bitcoin last week, for example, after crypto news outlet Cointelegraph erroneously posted about the SEC approving iShares’ spot bitcoin ETF on X, the platform formerly known as Twitter. Still, the most recent surge bitcoin goes beyond single developments or participants, Kaiko research analyst Riyad Carey notes — crediting “more of a broad market rally” around spot bitcoin ETF prospects. The collapse of crypto exchange giant FTX also “left a big scar” on the public’s confidence in the crypto industry and crushed retail investors, Moya said — noting that institutional money, like hedge funds, are behind the bulk of crypto investing today.

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