Bitcoin Reaches High: surpasses $ 66,000 First exchange-traded fund in the United States

  • This is the all-time high for the currency thanks to the fund that is listed on the New York Stock Exchange.
  • The United States identifies Bitcoin transactions valued at $ 5.2 billion and linked to ransomware.

Even though 2021 has been a rollercoaster for cryptocurrencies due to the ups and downs they have suffered throughout the year, this time, Bitcoin has exceeded $ 66,000, assuming its all-time high. Since the ETFs (Exchange-Traded Fund) debuted in the United States, it seems that the value of this virtual currency has been boosted.

Before we dive into the news, I want to make it clear to you what an ETF is. These acronyms translated into Spanish mean ‘listed index fund’, being a hybrid between an investment fund and a share, that is, it is a set of assets that are listed on the stock exchange.

Without taking into account the impediment of China that prohibited the transactions and mining of cryptocurrencies for a couple of months, the consequences of these actions were reflected in a drop in the value of Bitcoin and the rest of digital currencies.

The falls were considerable since the April highs were reached, although there was a brief recovery in May, however, the next drop in value was quite considerable and from the end of July, some recovery of Bitcoin began to be noticed.

Finally, the recovery has been even more noticeable in October since the ‘ProShares Bitcoin Strategy ETF’ was launched, a fund linked to the cryptocurrency market that was approved by the United States Securities and Exchange Commission. In addition, it has become one of the most popular because it has opened the doors to other financial products in the investment market.

Michael Sapir, CEO of ProShares (a US provider of exchange-traded products), told the New York Times that “2021 will be remembered for this milestone” This is because investors are curious about such currencies, yet they are hesitant to commit to exchanges that are not regulated because they want convenient access to Bitcoin in an envelope that has integrity in the market.

John R. Zepeda

I have extensive experience working as a content writer in the areas of cryptocurrencies and finance, where I create interesting pieces that both inform and engage their audiences.

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