Bitcoin Price Surges Amid BlackRock ETF Hopes and Prospect of $48 Trillion Crypto Market Boost
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Bitcoin and crypto prices have surged lately amid hype over BlackRock's moves into the market and prospects of a bitcoin spot ETF approval.
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Coinbase researchers predict a bitcoin spot ETF could unleash up to $48 trillion in new investments from the U.S. wealth management industry.
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A bitcoin ETF could open the door to new crypto financial products like lending and derivatives, per Coinbase.
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The bitcoin price has doubled since late 2022, boosted by BlackRock applying to launch a bitcoin spot ETF.
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Crypto asset manager Grayscale won a legal victory seen as paving the way for its bitcoin trust to become an ETF.