Positive News Flow Helps Bitcoin (BTC/USD) Achieve a Six-Week High
Bitcoin Market Update: BlackRock’s SEC Application and EDX Markets Launch
BlackRock’s SEC Application
Last week, BlackRock, the world’s largest asset manager, applied for a Bitcoin spot ETF. This caused a stir in the cryptocurrency market because BlackRock is a big name in finance. Although there have been other applications for a spot ETF, they have all been unsuccessful. However, BlackRock’s application has given some people hope that the SEC will approve it. A spot Bitcoin ETF is different from the BTC futures ETF that is already available because it offers direct exposure to Bitcoin.
Digital Asset Platform EDX Markets Begins Trading and Completes New Funding Round
EDX Markets, a digital asset marketplace backed by Wall Street giants like Citadel Securities, Charles Schwab, and Fidelity Digital Assets, has successfully launched after completing a funding round with new equity partners. The company plans to launch EDX Clearing later this year to settle trades on EDX Markets.
Bitcoin’s Recent Performance
Bitcoin has been trading sideways for a while, but it has picked up sharply over the last couple of days and is now at its highest level in six weeks. The cryptocurrency market has been under pressure from regulators, with the SEC issuing lawsuits against Binance and Coinbase. However, this week’s rally has broken the negative trend by breaking a series of lower highs. BTC/USD is now aiming for $30k, with $32.4k coming into view if it surpasses the April 14 high of $31k.