The fund will be based on the Ethereum blockchain and will comprise tokenised assets, a modern approach blending traditional finance with digital innovation.
The SEC is given up to 90 days to respond to this new amendment, with the deadline for a decision set for 23 May.
This surge has elevated Bitcoin’s market capitalisation beyond $1.4 trillion, surpassing Silver to become the eighth-largest asset globally.
This surge in mining revenue coincided with Bitcoin’s price reaching an all-time high.
The market cap of Bitcoin has now surpassed $1.4 trillion, overtaking silver and positioning itself as the eighth largest asset globally.
The surge is part of a broader bullish trend, with many analysts predicting a potential rise to $5000.
The move is a boon for Web3 developers as it facilitates smoother interactions across different EVM chains within the Avalanche network.
Bitcoin’s value has already surged in the European morning hours, closely approaching its all-time high of $69,000 recorded in November 2021.
Currently, Bitcoin trades above $62,000, with its market capitalisation soaring to $1.240 trillion, securing its position among the top ten largest financial assets globally.
The cryptocurrency market is currently witnessing a significant upswing, led by the impressive performance of Bitcoin, which has seen a 21% increase over the past week, reaching above $62,800.
