What to make of the new bitcoin-linked exchange-traded fund
Depending on whom you ask it is either a breakthrough or a disappointment
CRYPTO SEASONS are not what they used to be. In 2017, just as bitcoin was nearing $20,000 for the first time, a regulatory crackdown triggered a crypto “winter”—a period of depressed prices—that lasted nearly three years. In May this year frost set in after China clamped down on crypto transactions, bringing bitcoin down by half from its peak of $64,900. But after just a few icy months, things are warming up again. On October 20th bitcoin briefly crossed $67,000—a new record.
This article appeared in the Finance & economics section of the print edition under the headline “Bitcoin bounce”
Finance & economics October 23rd 2021
- A triple shock slows China’s growth
- Time for orderly resolution for Evergrande is running out
- What to make of the new bitcoin-linked exchange-traded fund
- Jens Weidmann steps down from the Bundesbank
- The race to redefine cross-border finance
- Why it matters when trades settle
- How soaring energy costs could hobble the covid-19 recovery
From the October 23rd 2021 edition
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