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Crypto: Bitcoin 1% away from all-time high, first bitcoin futures ETF closes with 5% gain – Vested Daily

Crypto: Bitcoin 1% away from all-time high, first bitcoin futures ETF closes with 5% gain

Bitcoin reached $64,309 on Tuesday, about 0.9% away from its all-time high of $64,889 in April, following the debut of ProShares Bitcoin Strategy ETF, the first bitcoin-linked exchange traded fund (ETF) in the U.S. .

Bitcoin
BTCUSD,
+4.34%

was trading at $63,930 late Tuesday afternoon New York time, up 4.22% over the past 24 hours, according to CoinDesk data.

ProShares Bitcoin Strategy ETF
BITO,
+4.85%
,
which is traded at the New York Stock Exchange, closed with an almost 5% gain, trading at about $42.

The ETF primarily invests in bitcoin futures contracts, which bet on the future prices of bitcoin, instead of the cryptocurrency itself.

This post was originally published on Market Watch

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