AGL 5.70 Decreased By ▼ -0.13 (-2.23%)
ANL 9.10 Increased By ▲ 0.07 (0.78%)
AVN 79.16 Increased By ▲ 0.36 (0.46%)
BOP 5.21 Increased By ▲ 0.05 (0.97%)
CNERGY 4.73 Increased By ▲ 0.05 (1.07%)
EFERT 81.11 Increased By ▲ 0.56 (0.7%)
EPCL 50.75 Decreased By ▼ -0.96 (-1.86%)
FCCL 13.52 Decreased By ▼ -0.09 (-0.66%)
FFL 5.76 Decreased By ▼ -0.09 (-1.54%)
FLYNG 7.29 Increased By ▲ 0.17 (2.39%)
FNEL 4.84 Decreased By ▼ -0.01 (-0.21%)
GGGL 8.89 Decreased By ▼ -0.01 (-0.11%)
GGL 15.80 Decreased By ▼ -0.25 (-1.56%)
HUMNL 5.83 Increased By ▲ 0.03 (0.52%)
KEL 2.59 Decreased By ▼ -0.01 (-0.38%)
LOTCHEM 29.80 Decreased By ▼ -0.21 (-0.7%)
MLCF 25.15 Decreased By ▼ -0.25 (-0.98%)
OGDC 72.70 Increased By ▲ 0.55 (0.76%)
PAEL 15.47 Decreased By ▼ -0.02 (-0.13%)
PIBTL 5.13 Increased By ▲ 0.12 (2.4%)
PRL 16.50 Increased By ▲ 0.10 (0.61%)
SILK 1.10 No Change ▼ 0.00 (0%)
TELE 9.55 Decreased By ▼ -0.10 (-1.04%)
TPL 7.33 Increased By ▲ 0.03 (0.41%)
TPLP 19.26 Increased By ▲ 0.03 (0.16%)
TREET 21.84 Decreased By ▼ -0.11 (-0.5%)
TRG 144.10 Decreased By ▼ -0.87 (-0.6%)
UNITY 17.52 Increased By ▲ 0.90 (5.42%)
WAVES 10.00 No Change ▼ 0.00 (0%)
WTL 1.37 No Change ▼ 0.00 (0%)
BR100 4,258 Increased By 27.9 (0.66%)
BR30 15,841 Increased By 19.2 (0.12%)
KSE100 42,374 Increased By 302.3 (0.72%)
KSE30 15,665 Increased By 161 (1.04%)
Markets

Bitcoin extends gain on reports of JPMorgan fund

  • The cryptocurrency had slumped almost a fifth from its all-time high hit earlier this month.
  • It was last up 9.5% at $53,792.0 after touching its lowest since early March on Sunday. Other major coins ethereum and XRP, which tend to move in tandem with bitcoin, were up around 7.7% and 20.4% respectively.
Published April 26, 2021
Follow us

NEW YORK: Bitcoin soared nearly 10% on Monday, after five straight days of losses, on reports that JPMorgan Chase is planning to offer a managed bitcoin fund.

The cryptocurrency had slumped almost a fifth from its all-time high hit earlier this month.

It was last up 9.5% at $53,792.0 after touching its lowest since early March on Sunday. Other major coins ethereum and XRP, which tend to move in tandem with bitcoin, were up around 7.7% and 20.4% respectively.

JPMorgan is preparing to let certain clients invest in an actively managed bitcoin fund for the first time, CoinDesk reported on Monday.

Cryptocurrencies fell sharply on Friday on concern that US President Joe Biden's plan to raise capital gains taxes would curb investments in digital assets, though they later recovered some losses.

Bitcoin has lost over 19% from its April 14 record of almost $65,000. Still, the cryptocurrency has risen over 80% this year, fuelled by growing adoption from mainstream investors and companies such as Tesla Inc.

Comments

Comments are closed.

Bitcoin extends gain on reports of JPMorgan fund

Pakistan receives $500mn from AIIB: finance ministry

Rupee remains stable at 223.95 against US dollar

Hina Rabbani Khar meets interim Afghan government leadership on one-day Kabul trip

Oil jumps on hopes for easing in China’s COVID controls

Islamabad court extends Azam Swati’s remand for 4 days

Qatar agrees long-term gas supply deal with Germany: energy minister

S&P Global lowers 2023 growth forecast for emerging markets

PD prepares $496m gas pipeline augmentation plan

IMF, govt begin virtual engagement

Dar willing to allow sugar export?