The price of the largest cryptocurrency, Bitcoin, rose 3.8 percent as wealth management companies, including the world’s largest asset management firm BlackRock, have plans to create crypto mutual funds in the United States, boosting investors’ risk appetite.

Bitcoin is trading at $ 30 thousand 123 as of 07.45 TSI, after rising above $ 31 thousand 500 and seeing its highest level in 13 months.

The U.S. Securities and Exchange Commission (SEC) reported last week that the recent applications by BlackRock, Fidelity and other asset management companies for a spot Bitcoin Exchange Traded Fund (ETF) were not “clear and comprehensive.”

Nasdaq announced on July 3 that it had re-applied for the iShares Bitcoin Trust, an ETF managed by BlackRock.

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