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07.11 - 22:55
Cointelegraph Consulting: ETFs listed — What’s next for Bitcoin?
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After dipping below $30,000 in June, Bitcoin (BTC) went on a nearly four-month rally, appreciating by more than 100%. On Oct. 15, it was able to recapture the $60,000 level after closing the day with a 7.56% spike. The ensuing rally was attributed to the excitement around the SEC giving the green light on the ProShares Bitcoin Futures ETF. Bitcoin has since successfully defended its current price level and managed to inch closer and closer to its all-time high valuation of $64,899.
The listing of ProShares Bitcoin Strategy ETF on Oct. 19 is believed to provide an additional thrust for Bitcoin and cryptocurrencies to mainstream legitimacy. However, a key fact about the new Bitcoin ETF is that it doesn’t invest in Bitcoin directly but instead
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