Bitcoin closes at record high, day after U.S. ETF launch

Bitcoin drifted just below its record highs on Wednesday, only one day after the launch of the first U.S. bitcoin futures-based exchange traded fund (ETF), to evidence that the new product was entirely meaningful for bitcoin.

The world’s leading cryptocurrency displayed good performance at $64,257, and got higher during the day. Bitcoin also displayed a short jump of the all time high at $64,895.22 recorded on 14 April 2021. It reached as high as $64,499 on Tuesday, late during the U.S. session.

The ProShares Bitcoin Strategy ETF was launched yesterday, in a development that investors believe will likely drive investment into the digital asset.

The ETF closed up 2.59% at $41.94 on Tuesday, with shares of about $1 billion value trading on Intercontinental Exchange Inc’s ICE.N Arca exchange. It was trading around 0.2% higher before the market opened. Trading appeared to be dominated by smaller investors and high-frequency trading firms.