It’s happened again. Bitcoin’s price has blasted beyond $70,000 for the first time since June.

The largest crypto by market capitalization is up 3% on the day to $70,100, according to CoinGecko data.

The asset’s rise comes as investors again turn to the newly-approved exchange-traded funds (ETFs), providing a path for institutional investors—previously too cautious to purchase the asset on exchanges—regulated exposure to crypto.

Investors this month have thrown billions of dollars at the new investment vehicles following a hiatus earlier this year.

The products have been wildly popular, taking in more than $20 billion this year. BlackRock’s iShares Bitcoin Trust has been the most successful of the ten vehicles to date.

Bitcoin hit a new all-time high of $73,737 in March, just two months after the Bitcoin ETFs were approved.

The asset then struggled fol

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Author: Mathew Di Salvo