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Bitcoin is back to levels not seen in nearly two months as it pushed past the $65,000 mark during U.S. late morning hours on Thursday.
Bitcoin may have outperformed stocks in the aftermath of the Federal Reserve’s decision to lower interest rates on Wednesday, but the true winners in the crypto universe are altcoins.
The eight recently launched spot ethereum {{ETH}} exchange-traded funds (ETFs) posted nearly $600 million worth of volume in the first half of their first day of availability, according to data from Bloomberg.
The launch of the spot ether exchange-traded funds (ETFs) could be rather underwhelming, one crypto firm says, while another predicts inflows will be lower than expected. (Getty Images)
Traders could be forgiven for wanting to cash in after bitcoin’s {{BTC}} quick rise of more than 20% to the current $67,000 from its early July lows, but another possibly major positive catalyst might be just days away, said 10x Research founder Markus Thielen.
Spot ether exchange-traded fund (ETF) issuers have submitted their final documents needed in order to launch the funds next week.
Lifetime net inflows into the U.S.-based spot bitcoin exchange-traded funds topped $16 billion on Monday as investors of late have shown themselves to be buyers in both up and down markets.
Data from Bloomberg Intelligence shows the spot funds saw net inflows of $790 million even as the price of bitcoin tumbled 7%.