Bitcoin flirts with all-time highs post ETF launch

Oct 19, 2021 | The Block News | 0 comments

Bitcoin was trading in the green Tuesday after the lunch of the first ETF tied to the cryptocurrency, breaking through previous highs by some measures. The cryptocurrency was changing hands at around $63,450 at time of publication.

According to price aggregator sites like CoinMarketCap, the price has broken through all-time highs. But according to the price at top exchanges like Binance and Coinbase, it still has some room to go.

TradingView

The surge comes in the wake of the allowance of the first crypto exchange traded fund (ETF) in the U.S. The ProShares bitcoin futures ETF listed today. When it seemed ProShares was nearing the finish line, the price of bitcoin broke above the $60,0000 mark. That run also saw the global cryptocurrency market cap return to its all-time high of $2.6 trillion.

This post has been updated to clarify that on certain individual exchanges the price has not yet reached an all-time high.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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