RATE Group | Bitcoin recovers as key South Korean exchange comes back online
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Bitcoin recovers as key South Korean exchange comes back online

29 Aug Bitcoin recovers as key South Korean exchange comes back online

Posted at 18:57h in Bitcoin News by

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News of institutional interest in crypto has been another barometer for prices this summer.

On Tuesday, Morgan Creek Digital and Bitwise Asset Management announced a new fund aimed at investors like endowments, pension funds and family offices. The so-called Digital Asset Index Fund has a minimum $50,000 investment and gives investors exposure to a basket of cryptocurrencies. Bitcoin broke above $7,000 following that announcement, after trading in the $6,000 range for the majority of August.

Investors have been closely watching the arrival of any institutional money, especially in the form of exchange-traded funds. Bitcoin rallied 20 percent, above $8,000, in late July on rumors that another ETF proposed by VanEck, would be approved by the Securities and Exchange Commission in August. That decision was later postponed by the…

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