Finance

Bitcoin hits fresh record high above $71,000 as UK opens the door to crypto exchange-traded products

Products You May Like

Chesnot | Getty Images News | Getty Images

Bitcoin prices rallied on Monday to hit a fresh record high above $71,000, after the British financial watchdog said it would allow institutions to file applications for cryptocurrency-linked exchange-traded products for the first time.

The Financial Conduct Authority said in a notice Monday that it would not object to requests from recognized investment exchanges to create a U.K.-listed market segment for crypto-backed exchange traded notes, or ETNs.

Exchanges would need to ensure they have sufficient controls in place, so that trading is orderly and proper protection is afforded to professional investors. They must meet all the requirements of the U.K.’s listings regime, issuing prospectuses and ongoing disclosures.

Bitcoin’s price surged over 3% to $71,726.49 at around 4:30 a.m. ET, hitting a fresh all-time high. Ether climbed nearly 2%, to $4,014.90.

This is a breaking news story. Please check later for updates.

Products You May Like

Articles You May Like

SailGP signs Rolex as first title partner of its global sailing competition
More young men are struggling financially. Here’s how that helped Trump win
Are Black Friday deals worth waiting for? Here’s what to expect this year
Number of older adults who lost $100,000 or more to fraud has tripled since 2020, FTC says
The 2025-26 FAFSA is open ahead of schedule — here’s why it’s important to file for college aid early

Leave a Reply

Your email address will not be published. Required fields are marked *