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These debuts mark the first launch of spot cryptocurrency ETFs in Asia, coming just three months after the U.S. introduced its first ETFs to track spot bitcoin.
As we look back on Bitcoin's performance in FY24 and look ahead FY25, the optimism surrounding this digital asset remains high, Sumit Gupta, co-founder, CoinDCX, told Livemint.
Bitcoin jumped to an intraday peak of $72,850 in the last 24 hours. The token was last 5% higher at $71,986 at 11:26 am IST. Other major crypto tokens also surged with Ethereum rising 4.7%, Solana up 9.2%, XRP 14.7%, among others
Bitcoin ETFs will allow the investors to gain exposure in the digital asset class without getting into the complications and risks of directly purchasing Bitcoin.
Major crypto tokens were trading mixed on Tuesday ahead of key inflation data and the US Federal Reserve policy decision. Bitcoin (-1.1%), Ethereum (-0.9%), XRP (-0.6%), and Dogecoin (-2.3%) were trading in the red, while BNB (7%), Solana (2.1%), Cardano (4.2%), and Avalanche (15%) were trading in the green.