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The price of the cryptocurrency is rising.
A day after the first Bitcoin-linked ETF was launched on the New York Stock Exchange, the price of Bitcoin surged above $65,000 – an all-time high for the cryptocurrency. When the ProShares Bitcoin Strategy ETF started trading on Tuesday morning, the price of Bitcoin began to rise without fully breaking $65,000 so far.
As of Wednesday morning, Bitcoin price is now above $66,000 and climbing. This marks a significant increase in the value of the cryptocurrency from September. At the end of September, the price of Bitcoin was around $43,000. It has been rising steadily since then.
In just the past seven days, the Bitcoin price has increased by over 17%. More Bitcoin-linked ETFs are under scrutiny by the Securities and Exchange Commission. Investors can soon see new exchange-traded funds in the same vein as the ProShares Bitcoin Strategy ETF. It will be interesting to see how Bitcoin prices change with new Bitcoin-linked financial instruments as they become available to mainstream investors.