Summary
• Bitcoin has hit $30,000 for the second time this year as traditional finance (TradFi) players are pushing further into crypto.
• Major TradFi players have filed for spot bitcoin ETF applications and EDX crypto exchange launched, backed by Fidelity Digital Assets, Charles Schwab and Citadel Securities.
• The upswing is surprising observers who were expecting a regulatory crackdown from the U.S. Securities and Exchange Commission (SEC).
Bitcoin Breaks $30K Amid TradFi Push Into Crypto
The world’s largest cryptocurrency by market value, bitcoin, has not reached levels above $30,000 since April of 2023. However, it recently broke that mark again amid bullish sentiment in the market due to a number of traditional finance (TradFi) players pushing further into crypto. Over the past 24 hours, bitcoin gained more than 10%.
Spot Bitcoin ETF Applications
Several TradFi giants such as BlackRock, Invesco and WisdomTree have filed for spot bitcoin ETF applications. Additionally, EDX crypto exchange launched on Tuesday with backing from major TradFi players such as Fidelity Digital Assets, Charles Schwab and Citadel Securities. It will offer four tokens in the US including bitcoin, ether