Bitcoin extends gain on reports of JPMorgan fund


[28-04-2021 03:44 AM]

Ammon News -

Bitcoin soared nearly 10 percent on Monday, after five straight days of losses, on reports that JPMorgan Chase is planning to offer a managed bitcoin fund.

 

The cryptocurrency had slumped almost a fifth from its all-time high hit earlier this month.

It was last up 9.5 percent at $53,792.0 after touching its lowest since early March on Sunday. Other major coins ethereum and XRP, which tend to move in tandem with bitcoin, were up around 7.7 percent and 20.4 percent respectively.

JPMorgan is preparing to let certain clients invest in an actively managed bitcoin fund for the first time, CoinDesk reported on Monday.

Cryptocurrencies fell sharply on Friday on concern that US President Joe Biden’s plan to raise capital gains taxes would curb investments in digital assets, though they later recovered some losses.

Bitcoin has lost over 19 percent from its April 14 record of almost $65,000. Still, the cryptocurrency has risen over 80 percent this year, fuelled by growing adoption from mainstream investors and companies such as Tesla Inc.

*Reuters




  • no comments

Notice
All comments are reviewed and posted only if approved.
Ammon News reserves the right to delete any comment at any time, and for any reason, and will not publish any comment containing offense or deviating from the subject at hand, or to include the names of any personalities or to stir up sectarian, sectarian or racial strife, hoping to adhere to a high level of the comments as they express The extent of the progress and culture of Ammon News' visitors, noting that the comments are expressed only by the owners.
name : *
email
show email
comment : *
Verification code : Refresh
write code :