Bitcoin and Ethereum were trading higher on June 22 morning, the third straight day of gains after the cryptocurrencies hit their highest levels in more than 14 months, helped by BlackRock's plan for a bitcoin exchange-traded fund (ETF) even as the segment faces heightened US regulatory scrutiny.
BlackRock, the world's biggest asset manager, last week filed an application for a spot bitcoin ETF which will allow investors to get stakes in the asset class. The Wall Street Journal reported on June 20 that EDX Markets, a crypto exchange backed by Citadel Securities, Fidelity and Schwab had started operations.
The global cryptocurrency industry has been caught in the crosshairs of the US securities regulator on alleged violations of laws. Early in June, the US Securities and Exchange Commission (SEC) sued major crypto exchanges including Coinbase and Binance.
Bitcoin, the world's biggest and best-known cryptocurrency, was last up 5.5 percent on June 22 at Rs 26,07,006. It is up roughly 81 percent this year .
Ether, the coin linked to the ethereum blockchain network, rose 4.8 percent to Rs 1,65,400.0.
(With inputs from agencies)Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
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