Bitcoin BTC has reached a new milestone, soaring past $82,000, fueled by optimism over a potentially favorable regulatory environment following Donald Trump’s election as U.S. president. The cryptocurrency has more than doubled from its earlier low of $38,505 this year, peaking at $82,368.
What Happened: Bitcoin-linked ETFs have mirrored this upward trend on Monday, as per Benzinga Pro. The Bitwise Bitcoin ETF BITB rose by 6.67%, while the Grayscale Bitcoin Trust ETF GBTC increased by 6.58%. Additionally, the iShares Bitcoin Trust IBIT saw a 7.21% rise.
In contrast, Ethereum ETH/USD experienced a slight decline of 0.61%, yet its associated ETFs showed positive movement.
The ProShares Ether ETF EETH climbed by 8.28%, the Bitwise Ethereum ETF ETHW went up 7.09%, and the iShares Ethereum Trust ETF ETHA increased by 8.42%.
The election of Trump has sparked speculation about a more crypto-friendly regulatory environment, which could pave the way for further adoption and integration of digital currencies.
Read Next:
Image via Shutterstock
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
