Bitcoin is heading for one of its strongest weeks of the year, buoyed by speculation that proposed exchange-traded funds potentially herald new sources of demand for the largest digital asset.
The token edged below $30,000 as of 10:05am Friday in Singapore, leaving it on course for a 13 per cent weekly gain, the most for such a timespan since March.
Smaller coins like XRP, Cardano and Solana dipped on the day.
BlackRock’s surprise June 15 filing with the Securities and Exchange Commission is among a flurry of US applications to start ETFs investing in spot Bitcoin.
The SEC has resisted such funds but the heft of the world’s largest asset manager has led some to argue the agency might yet be persuaded.