🚨Must know! The reason behind $BTC price surge today 💰
BTC price bounces at $66K as BlackRock adds US banks to Bitcoin ETF
Bitcoin sets up another run at the key $69,000 zone as U.S. banks including Goldman Sachs are revealed as BlackRock ETF "Authorized Participants
BTC shrugged off United States inflation signals on April 5 amid fresh excitement over future institutional investment.
Bitcoin shrugs off ebbing odds of Fed rate cut
Data from Cointelegraph Markets Pro and TradingView showed renewed BTC price support pushing BTC/USD to $68,630 after the Wall Street open.
Currently circling $68,000, Bitcoin appeared to gain in tandem with news that the world’s largest asset manager, BlackRock, had added major U.S. banks as participants in its spot Bitcoin exchange-traded fund (ETF).
The names listed in a filing shared online included Goldman Sachs, Citadel, UBS and Citigroup.
As Cointelegraph reported, the nine newcomer products held over 500,000 BTC between them as of April 4, not including assets in newly-coverted ETF, the Grayscale Bitcoin Trust (GBTC).
The BlackRock narrative served to protect BTC price action from the latest U.S. inflation signals.
These came in the form of above-expected employment data, suggesting that the Federal Reserve would have more room to keep interest rates higher for longer.
