In recent weeks, Bitcoin (BTC) has embarked on a rollercoaster ride, plunging to as low as $25,100 earlier this month. While the cryptocurrency has displayed signs of recovery, it seems to be struggling to gather the momentum needed for a significant breakthrough.
Nonetheless, this week has witnessed noteworthy gains for BTC as investors welcomed a new potential catalyst for institutional crypto adoption.
What happened?
The maiden cryptocurrency surged once again above the $27,000 mark this week after Nomura, the largest investment bank in Japan, announced the launch of the ‘Bitcoin Adoption Fund.’
The new offering was developed to provide institutional investors with long-only exposure to Bitcoin, propelling BTC to the top of the list of trending cryptocurrencies, Santiment data showed on September 20.
BTC became the top trending cryptocurrency after Nomura’s announcement. Source: Santiment
“Bitcoin received a boost to $27.2K after Japan’s largest investment bank, Nomura,
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