Bitcoin tops US$60,000, a six-month high, on US ETF expectations | Malay Mail

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LONDON, Oct 16 — Bitcoin topped US$60,000 (RM249,480) for the first time in six months yesterday, nearing its all-time high, as hopes grew that US regulators would allow a futures-based exchange-traded fund (ETF), a move likely to open the path to wider investment in digital assets....

LONDON, Oct 16 — Bitcoin topped US$60,000 for the first time in six months yesterday, nearing its all-time high, as hopes grew that US regulators would allow a futures-based exchange-traded fund , a move likely to open the path to wider investment in digital assets.

The US Securities and Exchange Commission is set to allow the first American bitcoin futures ETF to begin trading next week, Bloomberg News reported on Thursday. Such a move would open a new path for investors to gain exposure to the emerging asset, according to traders and analysts. Bitcoin’s moves yesterday were spurred by a Twitter post from the SEC’s investor education office urging investors to weigh risks and benefits of investing in funds that hold bitcoin futures contracts, said Ben Caselin of Asia-based crypto exchange AAX.

The 75-day time period for the ProShares Bitcoin Strategy ETF ends on Monday, and the ETF can be launched on Tuesday.Crypto ETFs have launched this year in Canada and Europe, growing in popularity amid surging interest in digital assets.

 

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