Bitcoin and other cryptocurrencies were rising early Friday. Solana was the standout gainer, after the first U.S. application was filed for a spot exchange-traded fund tied to the cryptocurrency.
Bitcoin was up 1.3% over the past 24 hours to $61,519. The largest cryptocurrency has fallen from levels of around $64,000 after news on Monday that the trustee of collapsed cryptocurrency exchange Mt. Gox will begin to return more than $8.5 billion worth of the crypto owed to creditors from the beginning of July.
Bitcoin…
Bitcoin and other cryptocurrencies were rising early Friday. Solana was the standout gainer, after the first U.S. application was filed for a spot exchange-traded fund tied to the cryptocurrency.
was up 1.3% over the past 24 hours to $61,519. The largest cryptocurrency has fallen from levels of around $64,000 after news on Monday that the trustee of collapsed cryptocurrency exchange Mt. Gox will begin to return more than $8.5 billion worth of the crypto owed to creditors from the beginning of July.
Bitcoin hit a record high near $74,000 in mid-March amid a surge of interest from new spot exchange-traded funds but its price has dropped since then.
Among smaller cryptos,
was gaining 6.3% to $144.58. Prices surged after asset-management firm VanEck filed with the Securities and Exchange Commission for a spot exchange-traded fund based on the cryptocurrency. Solana has a market cap of $67 billion and is the fifth-largest cryptocurrency, according to CoinMarketCap.
VanEck is the first firm to file for a Solana ETF in the U.S. It launched a spot Bitcoin ETF in January and is among several asset managers waiting to launch the first batch of Ether ETFs.
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—the second-largest crypto—was up 2.3% at $3,448 and has risen around 80% over the past 12 months.
The Securities and Exchange Commission recently approved critical rule changes to allow spot Ether exchange-traded funds to trade. The final approvals for the ETFs should come this summer, U.S. Securities and Exchange Commission Chair Gary Gensler told senators in a recent budget hearing.
Smaller cryptos, or altcoins, were in the green with
rising 1.9% and
gaining 3.7%.
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Write to Adam Clark at adam.clark@barrons.com
