In a notable development for cryptocurrency enthusiasts and investors, the actively managed fund, Global X Blockchain & Bitcoin Strategy ETF (BITS) has reached a new 52-week high. With its recent surge, the fund has climbed an impressive 114.71% from its lowest point in the past year, priced at $18.69 per share.
The Global X Blockchain & Bitcoin Strategy ETF stands out as an actively-managed fund that aims to capitalize on the long-term growth potential of the blockchain and digital assets sector. With an annual fee of 65 basis points, this ETF attracts attention from those seeking exposure to the promising world of cryptocurrencies.
Bitcoin, the leading cryptocurrency, has recently experienced a remarkable comeback, surpassing the significant $31,000 threshold that had eluded it for months. One of the key factors behind the surge in Bitcoin’s price was the request made by BlackRock, the world’s largest money manager, to register a Bitcoin ETF focusing on the spot market.
Adding to the positive sentiment surrounding cryptocurrencies, EDX Markets, a digital asset exchange platform backed by investment powerhouses such as Fidelity and Charles Schwab, made an announcement. The platform revealed its decision to allow the trading of select cryptocurrencies, generating heightened investor interest in the digital currency market. Moreover, there is growing speculation that these institutional initiatives could serve as catalysts for legislative bodies to address the classification and regulation of such ventures, fostering an optimistic outlook for the industry.
As the Global X Blockchain & Bitcoin Strategy ETF reaches a new 52-week high, market participants eagerly observe its performance and ponder the potential for further gains. With Bitcoin’s resurgence and increasing institutional involvement in the cryptocurrency realm, investors are optimistic about the prospects of the BITS ETF. However, only time would tell whether this ETF can continue its upward trajectory and provide investors with sustained growth in the ever-evolving world of cryptocurrencies.
