Bitcoin soars to 18-month high
Wednesday, 25 October 2023
LONDON/SINGAPORE, Oct 24 (Reuters): Bitcoin rose 6 per cent on Tuesday to to $35,198, its highest in nearly a year-and-a-half, on mounting speculation that an exchange-traded bitcoin fund is imminent.
That followed a 10 per cent surge on Monday, when bitcoin posted its best day in almost a year, and the bullishness spread across the wider crypto market and into related stocks.
Any approval by the US Securities and Exchange Commission (SEC) of an exchange-traded fund (ETF) that owns bitcoin on behalf of fund investors is predicted to fuel demand.