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Bitcoin hovered below record levels on Wednesday, the day after the first US bitcoin futures-based exchange-traded fund (ETF) began trading, a development that market participants say is likely to drive investment into the digital asset.
The world’s leading cryptocurrency was last at $63,998, off 0.4 per cent, but still within a short jump of its record of $64,895.22, hit on April 14 this year.
It reached as high as $64,499 on Tuesday, late in the US day.
Earlier on Tuesday, the ProShares Bitcoin Strategy ETF closed up 2.59pc at $41.94 after its first day of trading, with around $1 billion worth of shares trading hands on Intercontinental Exchange Inc’s Arca exchange.
Trading appeared to be dominated by smaller investors and high-frequency trading firms, analysts said, noting the absence of large block trades indicated that institutions were likely staying on the sidelines.
Bitcoin hovered below record levels on Wednesday, the day after the first US bitcoin futures-based exchange-traded fund (ETF) began trading, a development that market participants say is likely to drive investment into the digital asset.
The world’s leading cryptocurrency was last at $63,998, off 0.4 per cent, but still within a short jump of its record of $64,895.22, hit on April 14 this year.
It reached as high as $64,499 on Tuesday, late in the US day.
Earlier on Tuesday, the ProShares Bitcoin Strategy ETF closed up 2.59pc at $41.94 after its first day of trading, with around $1 billion worth of shares trading hands on Intercontinental Exchange Inc’s Arca exchange.
Trading appeared to be dominated by smaller investors and high-frequency trading firms, analysts said, noting the absence of large block trades indicated that institutions were likely staying on the sideline.
