Grayscale Bitcoin Trust rises 2.4% as largest bitcoin fund says it has formally kicked off plan to convert into an ETF


Bitcoin
BTCUSD,
+5.62%

briefly jumped above $40,000, a psychological level, as the Federal Reserve Chairman Jerome Powell speaks Wednesday after the central bank raised a key interest rate by a half point and said that in June it will start a multi-trillion dollar balance sheet contraction. Powell said the Fed is not actively considering a 75 basis point rate hike but the “broad sense in the committee is that 50 bps should be on the table at next meetings.” Bitcoin is up 5.8% from 24 hours ago to around $39,855, according to CoinDesk data. Ether
ETHUSD,
+6.65%

rose 6.2% to around $2,951.



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