Bitcoin climbed to the highest level since early May, buoyed by crypto initiatives involving major players from the traditional financial sector.
The largest digital asset rose as much as 3% and traded at $28,720 as of 11:10 a.m. in Singapore on Wednesday, lifting the token’s rebound this year to 74%. Smaller coins such as Ether, Cardano and Solana also posted gains.
Crypto investors have drawn succor from the start of a digital-asset exchange, EDX Markets, backed by firms including Citadel Securities, Fidelity Digital Assets and Charles Schwab Corp. Separately, BlackRock Inc. and WisdomTree Inc. have applied in quick succession to launch spot US Bitcoin exchange-traded funds.
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