By Alun John and Tom Westbrook and Elizabeth Howcroft
LONDON (Reuters) – Bitcoin hit an all-time high on Wednesday, and the first US exchange-traded ETF fund based on bitcoin futures was trading up more than 4% after rising on Tuesday’s debut.
At 1:06 pm (Eastern time), the cryptocurrency was up 3.8%, to US$66,705.75, after having set a record of 67,016.50. The previous high had been set on April 14 this year at $64,895.22.
Tuesday was the first trading day for the ProShares Bitcoin Strategy ETF – a development that market participants say will likely boost investment in the digital asset.
The ETF closed up 2.59% at $41.94 on Tuesday on trading volume and $1 billion on the Nyse Arca. It was trading up 4.4% on Wednesday at $43.80.
Trading appeared to be dominated by smaller investors and high-frequency trading firms, analysts said, noting that the absence of large block trades indicated institutions were likely to be on the sidelines.
Cryptocurrency ETFs were launched this year in Canada and Europe amid growing investor interest in cryptocurrencies.
Ethereum, the second most important cryptocurrency in the world, was up 5% to $4,069, close to the record of $4,380 set on May 12th.
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