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Bitcoin in touching distance of all-time high as crypto-heads await ETF launch

Published: 08:10 18 Oct 2021 BST

Bitcoin in touching distance of all-time high as crypto-heads await ETF launch

Bitcoin is trading just below all-time highs while crypto-heads await an imminent launch of the first SEC-approved Bitcoin exchange-traded fund (ETF).

Reports across financial media highlight the filing on Friday of an amendment to ProShares proposed Bitcoin futures ETF which, according to experts, suggests a near-term launch.

The amendment filing has all the hallmarks of a regulatory filing and could signal that the ETF may start trading either Monday or Tuesday, according to Market Watch citing comments from Todd Rosenbluth, head of ETF and mutual funds at CFRA Research.

It comes as Bitcoin’s continued rally over recent weeks picked up notably over the weekend to see Bitcoin start the new week above US$60,000.

Changing hands at US$62,324 in Monday morning’s dealing, the cryptocurrency had a total market value of around US$1.17trn.

It puts Bitcoin in touching distance of its all-time high of around US$64,200 set in April prior to the Chinese clampdown on crypto mining.

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