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Bitcoin (BTC) Price Shoots to $29,000 amid Flurry of Bitcoin ETF Applications
Over the last 24 hours, the world’s largest cryptocurrency Bitcoin (BTC) has seen its price shoot by a staggering 8% moving closer to $29,000 levels. As of press time, BTC is trading at $28,884 with a market cap of $560 billion. The recent catalyst to the BTC price surge has been a flurry of applications for the spot Bitcoin ETF over the last week.
Bitcoin ETF Applications and Their Impact on BTC Price
On Monday, two asset managers WisdomTree and Invesco filed for spot Bitcoin ETFs with the US SEC. These filings come within a week after financial behemoth BlackRock filed for a spot Bitcoin ETF. Another catalyst to the Bitcoin price rally was crypto exchange EDX Markets, backed by firms including Citadel Securities, Fidelity Digital Assets, and Charles Schwab Corp. announcing to start operations.
Tuesday’s filing from WisdomTree notes that the WisdomTree Bitcoin Trust would be listed on the Cbo
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