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.
Crypto-linked shares such as Coinbase Global or bitcoin owner MicroStrategy rose in after-hours trade. Cryptocurrency ether broke above $1 800.An exchange-traded fund owning bitcoin on behalf of fund investors is seen as a driver of demand because it would allow anyone reluctant to trade crypto markets a means of buying exposure to bitcoin through the stock market.
Anticipation has also grown after reports this month that the gatekeeper, the US Securities and Exchange Commission, won’t appeal a court ruling it had been wrong to reject an ETF application from Grayscale Investments.
Source: Digital Coin News (digitalcoinnews.net)
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