We have entered to the era of Bitcoin ETF which has helped the coin to cross $63k price mark as shown by the data from Cointelegraph and Tradingview. This is the first time since the April 16 that BTC has crossed this price mark.
The era of Bitcoin ETF has started:
The ProShare Bitcoin Strategy ETF ($BITO) began trading on the New York Stock Exchange, today. This is the first time that the first regulated Bitcoin exchange-traded fund saw solid uptake. WE can say that officialy we have entered in to the era of Bitcoin ETF which has affected the price of BTC. It was also the first time for the BTC to cross the price mark of $63k since April 16, 2021. The first born of crypto market is here to reclaim its place into the market through these ETFs.
At the start of launch, BITO started trading at $40, then swiftly hitting local highs of $42.09 in price discovery before consolidating. We have seen these fears and speculation in the era of Bitcoin ETF back in 2017. It was fear among the traders that this event can turn into buy the rumor, sell the news event. Everyone is waiting patiently to see what happens to the first few hours of the launch.
“The era of Bitcoin ETF has arrived!”, said the Dan held to which was seen a lot of criticism for the launch of Bitcoin based two ETFs in the past. Kraken growth lead Dan Held meanwhile argued that the same fears had surrounded the launch of those futures themselves in late 2017. Ultimately, they were unfounded.
For more content click here.