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Bitcoin (BTC) Surpasses $28,500 as VanEck Ethereum ETF Goes Live

Author

Jonathan Gibson

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1 min
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Author

Jonathan Gibson

Tags

Category

Breaking / Crypto News - Archive

Reading time

1 min
Last update

Author

Jonathan Gibson

Tags

Reading time

1 min
Last update

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Bitcoin (BTC) surpassed today the $28,000 mark as VanEck Ethereum ETF (EFUT) goes live and is now available for trading. The information was released on X by VanEck’s official account. This is the highest point reached by Bitcoin since mid-August 2023. 

Bitcoin Surpasses $28,000, VanEck Ethereum Strategy ETF Goes Live

The day in which The VanEck Ethereum Strategy Fund ETF (EFUT) goes live is the day in which Bitcoin (BTC) surpasses $28k for the first time in over a month. This shows that investors all over the world are interested in entering the market and see the launch of the ETF as positive for the whole cryptocurrency industry. 

​​https://x.com/vaneck_us/status/1708836614355476579

Earlier today, Bitcoin hit for a short period of time $28,500 and retraced back to $28,000. It would be interesting to see how the market will behave in the coming days and whether this is a new bullish impulse to help Bitcoin move higher before the end of the year. 

It is also worth taking into consideration that this is the first-ever ETF that is based on Ethereum futures. Thanks to it, it will be possible for companies and larger investors to enter the market and get exposure to Ethereum. When it comes to Ethereum’s price (ETH), the virtual currency is being traded at close to $1,685 and it has a market capitalization of $202 billion.