The price of the world's largest cryptocurrency by market capitalization was holding steady around $27,000 on Tuesday, less than a week after Bitcoin spot exchange-traded fund. Partnering with U.S.-based crypto exchange Coinbase and financial services giant Nasdaq, the firm hopes to give retail investors the ability to buy into Bitcoin's daily price swings through ordinary brokerage accounts—a potentially game-changing development that would expose Bitcoin to trillions more in capital. Shortly after news of BlackRock's application on Thursday, the price of Bitcoin jumped from below $25,000 to approximately $25,500, according to data from CoinGecko.
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