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Bitcoin Surges Past $25,500 After BlackRock iShares ETF Filing

Twitter icon  •  Published il y a 10 mois  •  Hassan Maishera

Bitcoin is up by more than 2% in the last 24 hours, thanks to the BlackRock iShares unit filing for a spot Bitcoin ETF on Thursday.

TL;DR

  • Bitcoin is up by more than 2% in the last 24 hours and is now trading above $25,500.

  • The rally comes after BlackRock iShares filed for a spot Bitcoin ETF.

Bitcoin Tops $25,500 With New Spot Bitcoin ETF Filing

Bitcoin, the world’s largest cryptocurrency by market cap, is up by more than 2% in the last 24 hours. The rally comes after Bitcoin dropped below the $25k level earlier this week.

BTC rose above the $25,700 level a few hours ago but has now settled around $25,500 per coin. 

The rally comes after the iShares unit of fund management giant BlackRock (BLK) filed for paperwork with the United States Securities and Exchange Commission (SEC) for the formation of a spot bitcoin (BTC) ETF.

BlackRock is the largest asset management firm in the world, with over $10 trillion in assets under management. 

The SEC has rejected all the spot Bitcoin ETF proposals submitted by various firms over the years. However, with BlackRock, investors might be confident that the SEC would approve it due to the status of the company. 

Ether, the second-largest cryptocurrency by market, also rallied by 2% in the last 24 hours and is now trading above the $1,600 level. 

The total cryptocurrency market cap currently stands at $1.04 trillion, up by nearly 2% so far today.

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.