Bitcoin rose to its highest level in more than a month on Wednesday, as traders got excited about the prospects of a spot bitcoin ETF following a series of recent applications from companies including BlackRock .
The price of bitcoin jumped 10% to $29,405.22 at about 11 a.m.
ET, the highest point since May 6, according to CoinGecko data, extending gains from earlier in the day.
Investors are growing bullish about the prospects of BlackRock and other major institutional names getting involved in digital assets.
"The slate of spot bitcoin ETF application announcements by larger institutions has definitely brought back bullishness into the crypto markets," Vijay Ayyar, head of international markets at CoinDCX, India's largest crypto exchange, told CNBC.
Persons:
Bitcoin, bitcoin, Vijay Ayyar, Ayyar
Organizations:
Mobile, CNBC, BTC
Locations:
Barcelona, Spain, BlackRock, CoinDCX