Bitcoin skyrocketed above the $60,000 mark late last week, further strengthening investors and traders’ projection that the currency’s exchange-traded fund (ETF) will eventually clear.
In a report by CNBC, the company announced the Proshares Bitcoin Strategy ETF stating it is scheduled to debut at the New York Stock Exchange this week.
“The ETF news is being priced in with the market expecting an approval on Monday. This is driving the price up,” Vijay Ayyar, head of Asia Pacific at cryptocurrency exchange Luno, told CNBC.
The levels exceeded by cryptocurrencies earlier this year has driven companies to become more willing to invest in them and engage in blockchain technology.
Amid a pending name change, ISW Holdings Inc. became one of the most recent establishments to ink a deal with Bitmain Technologies, as revealed by current and prospective shareholders, CNBC reports. The company will provide funding, expertise, hosting services, mining services, access to power and access to public market investors through its deal, the release stated.
According to a release Oct.18, the U.S. is one of the main hubs in the Bitcoin market