Bitcoin (BTC) has shattered records, surpassing $72,000 for the first time ever. This surge follows the recent approval of spot bitcoin ETFs in the US, which has fueled a steady rise in the leading cryptocurrency. Ether (ETH) also reached new heights, crossing $4,000.
Market on Fire
The overall cryptocurrency market is experiencing a significant rally. The CoinDesk 20 index (CD20) jumped nearly 1%, while the three-month futures premium on major exchanges has risen above 25%. This surge could attract new investors and boost market liquidity.
South Korea in Crypto Frenzy
Bitcoin's rise has ignited a renewed trading frenzy in South Korea. Local cryptocurrency exchange volumes surpassed those of the stock market for the first time last week. Reports indicate record-breaking trading volumes of $9 billion on Sunday, exceeding the stock market's $8.7 billion.
US Spot Bitcoin ETFs Offered to Indian Investors
Mudrex, an Indian crypto investment platform, plans to offer US spot bitcoin ETFs to both institutional and retail investors in India. This move caters specifically to institutions, as retail investors already have access to similar options through US stock investing companies. Mudrex could be the first Indian platform to offer this service to institutions.
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