Bitcoin is approaching the $30,000 mark for the first time in two months.

“Bitcoin has continued its upward trend from the previous night, nearing the $30,000 mark for the first time since April.

Today, the digital currency reached a high of $29,789 as significant entities from the conventional financial sector have unveiled their cryptocurrency initiatives.

Deutsche Bank is in the process of obtaining regulatory approval to manage cryptocurrencies for its clients. Simultaneously, BlackRock, a prominent asset manager, is preparing to launch the first spot Bitcoin exchange-traded fund in the US.

This increase in Bitcoin’s value is happening despite the ongoing regulatory scrutiny of cryptocurrency exchanges in the US, including Coinbase and Binance

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