The price of Bitcoin surged 5.6% to $46,700 after BlackRock, Ark, and several other potential fund issuers presented modified models for exchange-traded funds, which analysts see as a final push for introducing investment products.
This is the highest level for the currency since March 2022. This comes after it rose by approximately 160% last year, pending approval from the U.S. Securities and Exchange Commission.
Bitcoin reached an all-time high of approximately $69,000 in November 2021.
Bartosz Lipinski, the CEO of Cube.Exchange, stated that the market volatility earlier in the past week seems to have given way to a sideways trend, with everyone seemingly in a waiting mode to see what will happen with the orders of Bitcoin-traded investment funds.
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