One day after the the first Bitcoin-linked ETF made its debut on the New York Stock Exchange, the price of Bitcoin rose above $65,000 — an all-time high for the cryptocurrency. As ProShares Bitcoin Strategy ETF began trading Tuesday morning, the price of Bitcoin began to tick upward, not quite breaking the $65,000 mark — until today.
As of Wednesday morning, the price of Bitcoin is now over $66,000 and climbing. This marks a significant increase in the cryptocurrency’s value from September. At September’s end, Bitcoin’s price hovered around $43,000. It’s been rising steadily ever since.
Just in the last seven days, the price of Bitcoin has risen over 17%. More Bitcoin-linked ETFs are under review by the Securities and Exchange Commission. Investors could soon see new exchange-traded funds in the same vein as ProShares Bitcoin Strategy ETF. It will be interesting to see how Bitcoin prices shift with new Bitcoin-linked financial instruments, as they are made available to mainstream investors.
