SINGAPORE - Cryptocurrencies extended gains in Asia trade on Tuesday, with bitcoin rallying to an almost 18-month high on speculation that an exchange-traded bitcoin fund is imminent.
Investment giant BlackRock is among several firms with pending applications for bitcoin funds in the U.S. and speculation on their likely approval was fuelled by BlacRock's iShares ETF listing on the website of clearing house DTCC. Data on crypto derivatives analysis site Coinglass showed heavy bitcoin short-covering in the last 24 hours.
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Source: Digital Coin News (digitalcoinnews.net)
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