U.Today - Bitcoin, the world's largest cryptocurrency by market cap, has experienced a sudden surge, breaking above the $30,000 price point for the first time since Apr. 19.
Image by This notable increase comes on the heels of significant movements in the crypto investment sphere, particularly revolving around exchange-traded fund (ETF) filings by financial heavyweights BlackRock (NYSE:BLK) and Invesco.
Last week, asset management giant BlackRock filed an application for what would be the first-ever spot Bitcoin ETF in the U.S. Despite some skepticism by leading analysts, this move by BlackRock has been viewed as a strong signal of Bitcoin's continued interest among the world's largest financial institutions.
The world's largest cryptocurrency is changing hands at $30,397 on the Bitstamp exchange at press time. It is up more than 11% over the past 24 hours alone.
The market cap of the largest cryptocurrency currently stands at $592 billion.