The Zhitong Finance APP learned that as financial institutions continue to look at Bitcoin, the price of Bitcoin climbed on Monday. According to CoinMetrics, Bitcoin rose more than 5% to $28002
The Zhitong Finance APP learned that as financial institutions continue to look at Bitcoin, the price of Bitcoin climbed on Monday. According to CoinMetrics, Bitcoin rose more than 5% to $28002.18, the highest level since early May. Ethereum rose 3.5% to $1782.99.
Late last week, BlackRock (BLK. US), the world's largest asset management company, submitted an application to the United States to launch the first spot bitcoin ETF. Since then, sentiment in the Cryptocurrency market has been high. A week before BlackRock filed its application, the U.S. Securities and Exchange Commission sued the two largest Cryptocurrency exchange, Coinbase (COIN. US). Many people speculate about the timing of BlackRock's move, especially when Coinbase becomes its encryption hosting partner.
On Tuesday morning, US Eastern Time, a new Cryptocurrency exchange supported by financial giant Schwab. US, Fidelity Digital Assets and Citadel Securities announced that it had been online for several weeks to trade Bitcoin and Ethereum.
Since 2014, Fidelity has been actively focusing on the development of Cryptocurrency. In recent years, the company has opened the Fidelity Digital Assets Department, created a commission free retail investment application called Fidelity Encryption, and started to provide 401 (k) investors with Cryptocurrency.
As big companies such as BlackRock and Fidelity demonstrated their commitment to Cryptocurrency, investors were optimistic on Tuesday that some reputation risks in any crypto business might begin to fade. For some investors, this has always been a psychological barrier to buying Bitcoin.
This quarter, Bitcoin has struggled to break through its narrow trading range, but has not yet fallen significantly below $25000. Tuesday's significant increase pushed its monthly increase to a high level. Bitcoin has risen by 69% so far this year.
This article is sourced from Zhitong Finance Network
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