Bitcoin Jumps on Speculation BlackRock ‘May Know Something’ (1)

BlackRock Inc.’s surprise filing for a US spot Bitcoin exchange-traded fund last week has led to a flurry of similar applications from rival issuers and speculation that the asset manager has key insights that will lead to approval of its application.

Bitcoin has jumped more than 20% since the filing to more than $30,000. On Tuesday, Invesco Ltd. renewed its application for the physically-backed Invesco Galaxy Bitcoin ETF within hours of WisdomTree’s filing with the Securities and Exchange Commission for the WisdomTree Bitcoin Trust. Days earlier, Bitwise submitted plans for a similar vehicle.

WATCH: Bitcoin climbed on the tailwind from BlackRock’s application to start a US exchange-traded fund. Sonali Basak reports.

Source: Bloomberg

The rush of applications ...