The Bitcoin (CRYPTO: BTC) price is up 6.4% over the past 24 hours. One Bitcoin is currently worth US$64,347 (AU$83,568).
That puts the Bitcoin price at a new all-time high (achieved as I was penning this), replacing the freshly minted record high of US$63,825, which the crypto currency reached overnight.
According to data from CoinDesk, Bitcoin remains heavily traded, with US$72.9 billion worth of the digital currency transacted over the last 24 hours.
At the current Bitcoin price, the world’s most popular crypto asset has a market cap of US$1.2 trillion.
First North American Bitcoin ETF surges
The United States is still awaiting legislative approval to launch the first US listed Bitcoin exchange traded fund (ETF). Though, as Bloomberg reports, a growing number of companies are chomping at the bit to do so. “At least eight firms including VanEck Associates Corp. and WisdomTree Investments now have live applications… with the Securities and Exchange Commission.”
But, much as with the legal cannabis markets, the Canadians have forged ahead without their southern neighbours. Although the name they chose for the pioneering North American Bitcoin ETF could use a bit of work.
The Purpose Bitcoin CAD ETF Non-Currency Hedged (TSE: BTCC.B) – see, told you it was a mouthful – listed on the Toronto stock exchange on 18 February this year. And highlighting investor demand for exposure to Bitcoin without going through a digital wallet or crypto exchange, the ETF saw more than $165 million worth of shares change hands on its first day.
As of yesterday, the Bitcoin ETF reached US$1 billion (AU$1.3 billion) in assets.
The ETF gained 4.9% yesterday (overnight Aussie time), and is up 17.3% year-to-date.
Bitcoin price snapshot
At this time last year, you could have picked up a Bitcoin for US$6,887. That puts the Bitcoin price up 835% over the past 12 months.
Year-to-date the Bitcoin price has gained 121%.
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More reading
- The DigitalX (ASX:DCC) share price is up 30% this week
- What’s driving the Bitcoin price higher?
- Will this Nasdaq IPO send the Bitcoin price back to record highs?
- ASX 200 Weekly Wrap: ASX sees 7,000 points once more
- With the Bitcoin price up overnight your crypto Tesla just got cheaper
Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Bitcoin. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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