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Bitcoin soared 6% overnight, briefly retaking $30,000—a level not seen since earlier this summer.
The largest cryptocurrency by market cap has retraced some, however, and is now trading hands at $29,938, per CoinGecko data.
The latest uptick comes amid a raft of refilings and amendments from finance’s biggest players, as the race for a spot Bitcoin ETF heats up.
A highly anticipated product, a spot Bitcoin ETF is expected to lure in more institutional investors to the world of crypto.
The thinking goes that they would be far more interested in investing in Bitcoin so long as the custodial risks of holding the actual cryptocurrency were mitigated. An ETF would provide this convenience, essentially offering them access akin to stocks and bonds at a broker.
Yesterday, BlackRock made news after it amended its filing. Earlier this week Fidelity also made changes to its filing.
Editor’s note: This story is breaking and will be updated shortly.
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