Investors analyze BlackRock bitcoin ETF proposal as cryptocurrencies surge

BlackRock files to launch spot bitcoin ETF, and Binance to exit the Netherlands: CNBC Crypto World

Cryptocurrency prices surged at the end of the week on Friday, following news that the world’s largest asset manager is entering the race to launch the first spot bitcoin exchange-traded fund (ETF) in the United States.

Bitcoin closed the day 3.75% higher at $26,355.04, according to CoinMetrics. Ether also saw a 3% increase, reaching $1,718.32.

Altcoins experienced gains as well, with Solana and Cardano tokens rising by 4.5% and 2% respectively. Binance Coin increased by 2.75%, Litecoin by 3%, and the Uniswap token advanced 4%.

However, Bitcoin and Ether still ended the week with slight losses, marking the second consecutive week of decline. Bitcoin fell by 0.21%, while Ether dropped by 10.84%.

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