Bitcoin rises over $63.3k amid Hong Kong ETF launch; Altcoins witness volatility
economictimes.indiatimes.com
These debuts mark the first launch of spot cryptocurrency ETFs in Asia, coming just three months after the U.S. introduced its first ETFs to track spot bitcoin.
Spot bitcoin ETFs launched by China AMC, Harvest, and Bosera had gained roughly 2.6% by the midday break. However, the three ether ETFs managed by the asset managers remained largely flat.
In today's trading, other crypto tokens displayed mixed performance. BNB, XRP, Shiba Inu, and Avalanche recorded gains, trading up to 3% higher. Conversely, Ethereum, Solana, Dogecoin, Toncoin, Cardano, and Polkadot saw losses, trading down by up to 2%.
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View Details»Meanwhile, the global cryptocurrency market cap saw a marginal surge of 0.4% to around $2.33 trillion in the last 24 hours, led by Bitcoin.
«Bitcoin is up nearly 2% today, which could be because of the Hong Kong spot ETFs launching today. The Hong Kong spot ETF trading which commences trading today can potentially heighten interest, increase liquidity, and lead to deeper integration of cryptocurrencies into mainstream investment portfolios,» said
