Bitcoin hits record high as Trump supports crypto initiatives

Bitcoin reached a record high of $93,000 last week, driven by President-elect Donald Trump's positive stance on cryptocurrencies. This surge has also boosted crypto exchange-traded funds (ETFs), which allow investors to trade digital currencies on regular U.S. exchanges. Reports of advanced talks for a crypto trading company acquisition led to significant gains for Bakkt shares. Other crypto ETFs, like the ProShares Bitcoin ETF and the Amplify Transformational Data Sharing ETF, have also seen notable increases, reflecting the growing interest in the crypto market. While crypto ETFs offer a way to invest in digital currencies without direct exposure, they remain influenced by the prices of the underlying assets. Investors are advised to be cautious due to the inherent volatility of cryptocurrencies.