Bitcoin (CRYPTo: BTC) has reached a new milestone, soaring past $82,000, fueled by optimism over a potentially favorable regulatory environment following Donald Trump’s election as U.S. president. The cryptocurrency has more than doubled from its earlier low of $38,505 this year, peaking at $82,368.
What Happened: Bitcoin-linked ETFs have mirrored this upward trend on Monday, as per Benzinga Pro. The Bitwise Bitcoin ETF (NYSE:BITB) rose by 6.67%, while the Grayscale Bitcoin Trust ETF (NYSE:GBTC) increased by 6.58%. Additionally, the iShares Bitcoin Trust (NASDAQ:IBIT) saw a 7.21% rise.
In contrast, Ethereum (CRYPTO: ETH) experienced a slight decline of 0.61%, yet its associated ETFs showed positive movement.
The ProShares Ether ETF (NYSE:EETH) climbed by 8.28%, the Bitwise Ethereum ETF (NYSE:ETHW) went up 7.09%, and the iShares Ethereum Trust ETF (NASDAQ:ETHA) increased by 8.42%.
The election of Trump has sparked speculation about a more crypto-friendly regulatory environment, which could pave the way for further adoption and integration of digital currencies.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.