Bitcoin, which experienced a rapid rally in the last period of 2020, also broke a record on the first day of the new year. Bitcoin’s recent rally has also prompted a revival in the financial sector’s efforts for new instruments based on cryptocurrency. US portfolio management company applied to the relevant regulatory authority for Bitcoin mutual fund
Bitcoin continued to set records on the first day of the new year.
According to data provided by Bloomberg, Bitcoin hit an all-time high with $ 29,674 on January 1.
Bitcoin had a rapid rally in the last half of 2020 and recorded consecutive records. As a result of the rally recorded in the last period of the year, Bitcoin had made a 50 percent premium in December and over 300 percent throughout the year.
While the recent rally in Bitcoin has attracted attention, the financial sector has started to take its plans off the shelf to implement different instruments related to crypto money. US portfolio management company VanEck Associates Corp. He filed an application with the US regulatory agency SEC for a Bitcoin investment fund. There have been many applications for this purpose before, but the SEC has rejected all of them.
“The importance of this rally has been going on for weeks. If we see a downside break, it will be informative about the direction of first-quarter flows in the context of seeing if institutions will buy from a possible bottom,” said Matta Long of cryptocurrency platform OSL in Hong Kong. said.