Bitcoin Sits Below All-Time High After US ETF Debut

Bitcoin Sits Below All-Time High After US ETF Debut
A representation of the virtual cryptocurrency Bitcoin is seen in this picture illustration taken on Oct. 19, 2021. Edgar Su/Reuters
Reuters
Updated:

HONG KONG—Bitcoin hovered below record levels on Wednesday, the day after the first U.S. bitcoin futures-based exchange-traded fund (ETF) began trading, a development that market participants say is likely to drive investment into the digital asset.

The world’s leading cryptocurrency was last at $63,998, off 0.4 percent, but still within a short jump of its record of $64,895.22, hit April 14 this year.