Crypto wrap: Cryptocurrency in Parliament; Bitcoin’s surge to 18-month high

Cryptocurrency saw a bull run in the last one week on the back of optimism around Bitcoin exchange-traded funds (ETF). Bitcoin rose 12.5 per cent in the last seven days and was trading at $43,387 on Friday, according to CoinMarketCap. Ethereum rose 12.7 per cent and was trading at $2,356. During the week, Bitcoin rose to $44,000 for the first time in 18 months.

“Blackrock’s spot ETF application received its announced $100,000 seed funding, fueling speculation of an approval, which further boosted the broader markets, resulting in an overall Crypto market cap reaching almost $1.6 trillion,” said Parth Chaturvedi, investments lead, CoinSwitch Ventures.