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SINGAPORE, Feb 27 (Reuters) - Cryptocurrency bitcoin hit a two-year high above $57,000 in Asia trade on Tuesday on signs of heavy institutional buying, while smaller rival ether topped $3,200 for the first time in two years. Bitcoin has rallied more than 10% in two sessions, helped by a Monday disclosure from crypto investor and software firm MicroStrategy (MSTR.O), opens new tab that it had recently purchased about 3,000 bitcoins for an outlay of $155 million. The original and largest cryptocurrency by market value has also been buoyed recently by the approval of bitcoin-owning exchange-traded funds (ETFs) in the United...

On February 14, 2024, a significant development unfolded in the financial regulatory landscape as four leading financial associations—the Bank Policy Institute (BPI), the American Bankers Association (ABA), the Financial Services Forum (the Forum), and the Securities Industry and Financial Markets Association (SIFMA)—jointly addressed a letter to Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC). This letter represents a unified request from these influential bodies for the SEC to consider targeted modifications to Staff Accounting Bulletin No. 121 (SAB 121), a directive that has significantly impacted U.S. banking organizations’ ability to engage with digital assets since its issuance...

BitcoinBTC 0.0% and the wider crypto market have pulled off a dramatic recovery over the last year, with the bitcoin price up 100%, ethereum up 60% and XRPXRP 0.0% up 35%. In early 2021, the world's largest cryptocurrency, Bitcoin (CRYPTO: BTC), flew past $50,000 per coin for the first time. After falling about 75% from its all-time high in the inflation-powered crisis of 2022, the cryptocurrency had a lot of ground to make up. But on Feb. 12, Bitcoin finally surged past $50,000 once again. The price of Bitcoin is rising at an incredible pace. As of this writing, it's...

Bank of America’s Merrill Lynch and Wells Fargo’s wealth management arm have reportedly begun offering some clients access to spot bitcoin exchange-traded funds (ETFs). Other investment platforms that offer some clients access to spot bitcoin ETFs include Fidelity, Charles Schwab, Robinhood Markets, and UBS. Major Banks Embrace Bitcoin ETFs Bank of America’s investment arm, Merrill Lynch, and Wells Fargo’s wealth management unit have begun offering some clients access to SEC-approved spot bitcoin exchange-traded funds (ETFs), Bloomberg reported Thursday, citing people familiar with the matter. Clients must have brokerage accounts and specifically request the bitcoin ETFs. A representative for Wells Fargo...