Bitcoin hovers near 6-month high on ETF hopes, inflation worries

Bitcoin hovered near six-month highs on Monday in anticipation of the listing of the first futures-based bitcoin exchange-traded funds (ETF) in the United States, which investors hope will boost cryptocurrency trading volumes.

If the U.S. Securities and Exchange Commission (SEC) does not object, the ProShares Bitcoin Strategy ETF completes a 75-day period since the fund manager filed plans and could begin trading on Tuesday.

Other fund managers could list bitcoin ETFs in the coming days and weeks, and that could lead to wider investment in digital assets.

The world’s largest cryptocurrency last stood at $62,288 , near Friday’s six-month high of $62,944 and not far from its all-time high of $64,895 hit in April.