Bitcoin bounces back as crypto firms rally on ETF hopes

Shares in cryptocurrency and blockchain companies surged today as bitcoin rebounded after a 5% drop yesterday. The gains come amid optimism that US regulators are moving closer to approving bitcoin exchange-traded funds (ETFs).

Bitcoin itself rose 2.5% to $43,925, while Ethereum and XRP also climbed. Coinbase jumped 3.7% and Bitfarms 1.9%, while crypto miners Riot Platforms, Marathon Digital, Hut 8 and Bit Digital saw even stronger gains.

Bitcoin Bounces

The digital asset boom follows bitcoin’s 155.7% surge last year on growing hopes of a spot bitcoin ETF being approved.

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Goldman eyes Bitcoin ETF in SEC talks

Goldman Sachs is the latest financial giant that is reportedly in talks to be an authorised participant in planned ETFs from BlackRock and Grayscale.

With more institutional backing, this latest crypto resurgence could have further to run.