Bitcoin reaches $72,166, surpassing previous high. FCA approves U.K.-listed market segment for crypto asset-backed ETNs.
Bitcoin hit $72,166 in early trading on Monday, just days after it surpassed a previous high of nearly $69,000 from November 2021. After crossing that threshold last week, the price of bitcoin tumbled by 10% before rebounding to its current levels. The Financial Conduct Authority ( FCA ) announced that it will "not object" to exchanges forming a U.K.-listed market segment for crypto asset-backed Exchange Traded Notes, or cETNs.
The soon-to-be available financial instruments allow traders to buy and sell assets that fluctuate in price in concert with a given cryptocurrency. The publicly listed assets enable traders to essentially invest in cryptocurrency but without the inconvenience and technical challenge of acquiring a crypto coin itself. Despite approving cETNs, the FCA said the products will remain unavailable to retail investors and cautioned traders about risks associated with cryptocurrency investments
Bitcoin High FCA Crypto Asset-Backed Etns Trading Market Cryptocurrency
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