As of Thursday afternoon, bitcoin had risen above $30,000 — the highest it has been since April. The increase marks an 18.3% increase from a week ago, quick growth for the flagship cryptocurrency, which has been having a much better year than 2022’s disastrous run.Bitcoin is up 80% since the start of the year alone.
The iShares Bitcoin Trust, if approved, would be the first ETF to have bitcoin as an underlying asset as opposed to futures contracts. Previous applications to the SEC from other money managers have been rejected, though just the application for an ETF shows growing institutional acceptance from such a major Wall Street player.
The exchange, which was launched on Tuesday, allows trades of bitcoin, ethereum, litecoin, and bitcoin cash. In mid-December, bitcoin was hovering at about $17,000 — an enormous annual drop from late 2021, when the flagship cryptocurrency hit a record $69,000.