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,
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,
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
