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Buy the rumor... buy the news? BTC price passes $63K as US Bitcoin ETF launches
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Bitcoin (BTC) hit $63,000 on Oct. 19 as the debut of the first regulated Bitcoin exchange-traded fund (ETF) saw solid uptake.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting its highest levels since April 16 as the ProShares Bitcoin Strategy ETF ($BITO) began trading on the New York Stock Exchange.
BITO opened at just under $40, swiftly hitting local highs of $42.09 in price discovery before consolidating.
The strength of the launch served to allay fears that the market would conversely fall into the U.S. open, in what would constitute a classic "buy the rumor, sell the news" event.
Volatility was still rampant at the time of writing, however, with commentators waiting to see what would ultimately become of the ETF's
Read more on cointelegraph.comAbout this in other media
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‘Exiting Times’ as Australian Managers Ready ‘Inevitable’ Bitcoin ETF Offerings cryptonews.com /3 years ago
BTC price dips below $62K on VanEck Bitcoin ETF launch day cointelegraph.com /3 years ago
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