Bitcoin Hits Record $69,000 High Following SEC Rule Change

After a tumultuous two-year slump, Bitcoin rebounded this week when it briefly reached a new all-time high exceeding $69,000, marking a more than 300 percent rise since November 2022 when the price was below $20,000. The prior record of just below $68,790 dates back to November 2021. The 2024 rally comes on the heels of regulatory action approving rules that make it simpler for individuals to invest in Bitcoin by allowing some large investment firms including BlackRock, Fidelity, Grayscale and Valkyrie to add it to their funds, making it easier for the average investor to choose it as a portfolio option. Continue reading Bitcoin Hits Record $69,000 High Following SEC Rule Change

Fidelity Reveals It Will Launch Bitcoin Exchange-Traded Fund

Fidelity Investments plans to launch the Wise Origin Bitcoin Trust, an exchange-traded fund (ETF) that tracks the price of Bitcoin via the Fidelity Bitcoin Index. Fidelity Digital Assets will store Wise Origin’s holdings. The Securities and Exchange Commission, which blocked nine applications for Bitcoin ETFs in 2018, must approve the plan. Fidelity Investments chief executive Abigail Johnson has long advocated the market potential of cryptocurrencies, and Fidelity was one of the first big financial firms to embrace them as an asset class. Continue reading Fidelity Reveals It Will Launch Bitcoin Exchange-Traded Fund