Institutional Players Apply for Bitcoin ETFs, Fueling Rally.

WisdomTree and Invesco have filed for spot Bitcoin exchange-traded funds (ETFs) in the US, following BlackRock's similar application last week. The ETFs aim to provide investors with exposure to the price movements of Bitcoin without requiring them to directly own and store the underlying asset. The SEC has repeatedly denied or postponed decisions on a physical Bitcoin ETF, raising concerns over the cryptocurrency's volatility and risk of market manipulation.