On Thursday, the Bitcoin price rose to its highest level in more than a year. The price of the world’s most famous crypto coin is driven by speculation that a listed fund may soon be launched that will invest directly in bitcoins.
Since the beginning of this year, the value of Bitcoin has already risen more than 80 percent.
The bitcoin price is now above $ 31,000, the highest level since June last year. The large American asset manager BlackRock has submitted a request to the SEC for a stock exchange listing for a special investment fund focused on bitcoins. It is now hoped that the SEC will approve this. BlackRock CEO Larry Fink said he wants to make investing in digital currency easier and cheaper.
Other major financial parties also have such plans, including asset manager Fidelity. That would mean more money from professional investors coming into the market for bitcoins and other cryptos.
The price of the bitcoin is still well below the record level of approximately $ 69,000 that was tapped in November 2021. The price movements of digital currencies are often very erratic. The crypto market is also regularly shaken by unrest and scandals, such as the collapse of the large trading platform FTX last year.
Furthermore, the major crypto exchanges Coinbase and Binance have been sued by the US authorities for violating exchange trading rules and misleading investors and regulators.
