Bitcoin Hits All-Time High - What's Moving the Price?

Bitcoin hit an all-time high Wednesday following the debut of the ProShares Bitcoin Strategy ETF on the New York Stock Exchange Tuesday. 

Related: Bitcoin ETF Set To Launch Next Week

The ETF gives exposure to Bitcoin futures contracts, but not the spot market. 

Related: 4 Things You Don't Know About Bitcoin

Bitcoin crossed and traded above $65,000 Wednesday, surpassing its previous peak. On April 14, 2021, Bitcoin crossed $64,800, marking a peak for the cryptocurrency.