Bitcoin tops $60,000, nears record high, on growing U.S. ETF hopes
3 years, 2 months ago

Bitcoin tops $60,000, nears record high, on growing U.S. ETF hopes

The Hindu  

Bitcoin hit $60,000 for the first time in six months on Friday, nearing its record high, as traders grew confident that U.S. regulators would approve the launch of an exchange-traded fund based on its futures contracts. The U.S. Securities and Exchange Commission is set to allow the first U.S. bitcoin futures ETF to begin trading next week, Bloomberg News reported on Thursday. "It is widely expected that Q4 will see significant progress around a bitcoin ETF in the U.S.," Ben Caselin, head of research and strategy at Asia-based cryptocurrency exchange AAX, said. Friday's moves were spurred, he said, by a tweet from the SEC's investor education office that stated: "Before investing in a fund that holds Bitcoin futures contracts, make sure you carefully weigh the potential risks and benefits."

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