Bitcoin is below $60,000

Bitcoin is below $60,000
Bitcoin is below $60,000

“Bitcoin” abandoned the level of $ 60,000, Sunday, losing about $ 7,000 from the highest level recorded by the cryptocurrency, last week. “Bitcoin” was traded at $59,900 in the evening, UAE time.

The past week witnessed a milestone in the cryptocurrency space, as investors began trading the first bitcoin futures exchange-traded fund in the United States, with great demand outstripping other ETF launches.

The Proshares Bitcoin Strategy Fund invests in bitcoin futures, or agreements to buy or sell an asset later at an agreed price, rather than directly in bitcoin.

The new products allow trading through regular investment accounts, bypassing concerns about cryptocurrency exchange.

While the new offerings don’t ultimately meet what the industry wants – ETFs are investing in the currency itself – it didn’t dampen the excitement at the first launch.

The ProShares Bitcoin Strategy Fund had one of the biggest early days ever for ETFs, taking in $550 million from crypto-hungry investors. All in all, more than $1.01 billion in shares were traded, according to Morningstar.

Source

Bitcoin

 
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