USA: Bitcoin at its highest level since 2022

Hibapress

Bitcoin held around its highest level since March 2022 on Thursday after U.S. regulators approved the first U.S.-listed exchange-traded funds (ETFs) to track the cryptocurrency.

Bitcoin was trading around $46,250, up 0.6% on the day, and maintaining gains made this week.

The world’s largest cryptocurrency is up nearly 9% year to date and hit $47,915 on Tuesday, its highest level since March 2022.

Its price more than doubled last year, a recovery of sorts after a turbulent 2022 for the crypto industry, when several major companies collapsed, including exchange site FTX.

The Securities and Exchange Commission (SEC) said Wednesday that it had approved 11 applications, including those from BlackRock, Ark Investments/21Shares, Fidelity, Invesco and VanEck.

Three of the ETFs, including BlackRock’s, were already trading as of 0930 GMT on Thursday, with more expected to begin trading later in the day.

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