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Bitcoin Price Rises as BlackRock Files for Bitcoin Spot ETF in the US

June 20 (Cointime) - After hitting a three-month low last week, Bitcoin's price has risen by 1.6% in the last 24 hours to currently sit at $26,795. The filing by BlackRock, the world's largest asset manager, for a Bitcoin Spot ETF in the US has caused bullish sentiment to return to the market.

The approval of a spot ETF could have a similar bullish impact to the first gold ETF in the US in 2004, which led to a more than quadrupling of the price of gold within eight years. Whales, or large investors in BTC, have also been accumulating the cryptocurrency over the past two months, with wallets holding 1K to 10K BTC accumulating a combined $3.5B since the first week of April.

Bitcoin Bitcoin $92,450.98
-1.81%
Bitcoin BlackRock Cryptocurrency
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