Bitcoin tests 13-month high

The price of Bitcoin reached a 13-month high of $ 31,100, as the plans of leading US asset management companies to create crypto investment funds in the country increased the risk appetite of investors.

According to data from analytics company Coinmarketcap, the value of the global cryptocurrency market, including Bitcoin, increased by about 0.95 percent in 24 hours to over $1.2 trillion.

The price of the largest cryptocurrency, Bitcoin, rose 3.8 percent as wealth management companies, including the world’s largest asset management firm BlackRock, have plans to create crypto mutual funds in the United States, boosting investors’ risk appetite.

The U.S. Securities and Exchange Commission (SEC) reported last week that the recent applications by BlackRock, Fidelity and other asset management companies for a spot Bitcoin Exchange Traded Fund (ETF) were not “clear and comprehensive.”

Nasdaq announced on July 3 that it had re-applied for the iShares Bitcoin Trust, an ETF managed by BlackRock.

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