Cryptocurrencies have surged so much that their total value has reached nearly US$2.5 trillion , rivalling the world's most valuable company, Apple, and have amassed more than 200 million users.ProShares Global Investment Strategist Simeon Hyman. ProShares will launch the country's first exchange-traded fund linked to Bitcoin.
It's all part of a movement across big businesses that see a chance to profit on the fervour around the world of crypto, as a new ecosystem further builds up around it, whether they believe in it or not. More high-minded fans say digital assets are simply the future of finance, allowing transactions to sidestep middlemen and fees with a currency that's not beholden to any government.
US Bank earlier this month said it has begun offering a cryptocurrency custody service for big investment managers. At Robinhood Markets, meanwhile, the company that became famous for getting a new generation of investors into the stock market is increasingly becoming a place for crypto trading.
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