The recovery has put the psychologically important $100,000 mark back into focus.
Bitcoin rose by more than 16% from its local low near $80,600, with its rebound rally picking up momentum on Tuesday as traders assessed an optimistic update from Vanguard.
The Wall Street firm confirmed it will allow exchange-traded funds and mutual funds holding cryptocurrencies to be traded on its platform, a decision widely seen as another incremental step toward mainstream acceptance of crypto exposure among long-term investors, particularly those historically restricted by platform-level limitations.
Bloomberg’s Eric Balchunas confirmed that Bitcoin ETFs, primarily BlackRock’s IBIT, generated $1 billion in volume following their debut on Vanguard’s desk.
“I knew those Vanguardians had a little degen in them, even some of the most conservative investors like to add a little hot sauce to their portfolio,” he said in a Tuesday post.
