June 16 (Cointime) - Bitcoin experienced a gain of over 1.3% and surpassed $25,700 after BlackRock's iShares filed paperwork with the SEC for a spot bitcoin ETF. The price of BTC had recently dropped below $25,000 due to concerns about US regulatory scrutiny and central bank hawkishness.

However, the announcement of the iShares Bitcoin Trust has rekindled optimism for the possibility of a spot bitcoin ETF, with Coinbase serving as the custodian for the fund's assets. BlackRock had previously been reported to be planning to file for a bitcoin ETF.