Key Points
Cryptocurrencies extended gains in Asia trade on Tuesday, with Bitcoin rallying to an almost 18-month high on speculation that an exchange-traded Bitcoin fund is imminent...
An exchange-traded fund (ETF) owning Bitcoin on behalf of fund investors is seen as a driver of demand because it would allow anyone reluctant to trade crypto markets a means of buying exposure to bitcoin through the stock market...
Investment giant BlackRock is among several firms with pending applications for Bitcoin funds in the U.S. and speculation on their likely approval was fuelled by BlacRock's iShares ETF listing on the website of clearing house DTCC...
Anticipation has also grown after reports this month, including from Reuters, that the gatekeeper, the U.S. Securities and Exchange Commission, won't appeal a court ruling it had been wrong to reject an ETF application from Grayscale Investments...
Kyle Rodda, analyst at Capital.com said that the conflict and radical Javier Milei emerging as frontrunner for Argentina's presidency could also have helped demand for bitcoin, which can sometimes behave as a store of wealth during times of crisis...
