Technology

Bitcoin nears record high amid ETF debut. What is an ETF and can it convince the crypto world?

Bitcoin nears record high amid ETF debut. What is an ETF and can it convince the crypto world?

The first exchange-traded fund (ETF) linked to Bitcoin launched on the New York Stock Exchange on Tuesday. Experts say it is likely to drive investment into the cryptocurrency but it may be a hard sell for Bitcoin fans who want to cut out the middleman. The hype lifted the price of Bitcoin to $63,998 (€54,000) on Wednesday, within a short jump of its record of $64,895.22, hit April 14 this year.

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