Bitcoin, the world’s largest cryptocurrency, hit a more than one-year high on Friday, capping a week of gains helped in part by BlackRock’s (BLK.N) plans to create a bitcoin exchange-traded fund (ETF) despite heightened U.S. regulatory scrutiny on the digital asset sector.
BlackRock, the world’s biggest asset manager, filed last week to launch iShares Bitcoin Trust, an ETF that would have Coinbase Custody as its custodian as well as offer institutional investors exposure to the cyptocurrency.
Crypto exchange EDX Markets, backed by investment firms Charles Schwab, Fidelity and Citadel Securities, also announced earlier this week that it will allow trading on some cryptocurrencies.
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