Bitcoin's Rally Continues as Traditional Finance Embraces Crypto.
TL;DR Summary
Bitcoin rallied 8% to $28,800 after traditional finance firms announced moves into the crypto market, including Deutsche Bank applying for a digital asset custody license in Germany and EDX Markets offering trading for BTC, ETH, LTC, and BCH. BlackRock filed for a spot BTC ETF, causing Grayscale Bitcoin Trust's share price to soar on optimism about converting the fund into an ETF. Invesco reapplied for a spot bitcoin ETF, arguing that the lack of one pushes investors toward riskier alternatives. The CME basis or premium has jumped to a yearly high of 12%, indicating bullish action on the global derivatives giant.
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