Despite facing mounting regulatory heat in the United States, Bitcoin (BTC), the world’s leading cryptocurrency, has found respite in a recent surge of interest from institutional investors. This newfound enthusiasm from established financial players has effectively offset the losses experienced by Bitcoin, reigniting optimism within the crypto community.
Notably, BTC surged above the $30,000 mark on Wednesday, June 21, marking the second time it has reached that threshold in 2023, now driven by a flurry of major traditional finance (TradFi) players foraying into the nascent crypto space.
Last week, BlackRock, the largest asset management firm in the world and a Wall Street bigwig said it has filed to launch a spot Bitcoin exchange-traded fund (ETF). A few days later, two other well-known TradFi firms followed suit, including Invesco and WisdomTree.
At the same time, EDX, a new crypto exchange backed by institutional giants such as Fidelity Digital Assets, Citadel Securities, and C
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