• BTC jumped to over $27,000 and has remained there.
• The Bitcoin Adoption Fund launched in Japan sparked this price move.

Bitcoin [BTC] has recently surged to a price of $27,000 following a significant announcement from Japan. In light of this recent news from Japan, what is the overall sentiment in the market?

Read Bitcoin (BTC) Price Prediction 2023-24

Japan gets institutional exposure to Bitcoin

On 19 September, a noteworthy announcement was made by the digital assets subsidiary of the Japanese financial services giant Nomura, known as Laser Digital.

According to the company, they are launching a new fund aimed at offering institutional investors exposure to Bitcoin.

This fund, known as the Bitcoin Adoption Fund, will provide long-term investment opportunities and represents the initial offering in a series of digital asset investment products planned by Laser Digital. 

Additionally, the fund will utilize Komainu, a custody solution jointly operated by Nomura, Ledger, and CoinShares, to safeguard client assets.

How Bitcoin reacted to the development

As per a Santiment report, Bitcoin responded positively to the announcement. The Santiment trend table indicated that BTC quickly surged to the top of the charts when the news was released. Moreover, the Santime

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Author: Adewale Olarinde

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