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Bitcoin has started the last day of the workweek with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $51,778.81 (+0.55%), according to CoinMarketCap.

Chart of the USD/BTC trading pair from EXANTE

For its part, Ether has increased to $1,917.38 (+1.57%), while XRP has dropped by 1.47% and is now trading at $0.538.

North America's first Bitcoin-based exchange-traded fund (ETF) started trading today on the Toronto Stock Exchange. During the first hour of trading, investors have completed transactions valued at $80M.

The Purpose Bitcoin ETF has been launched by Purpose Investments Inc. to allow direct investment in Bitcoin. Purpose Investments was the first North American firm to receive approval to launch a Bitcoin ETF, but before that similar investment vehicles existed in the Canadian and US markets. Market participants, however, are hoping that the Purpose Bitcoin ETF will allow investment in cryptos without the surcharges inherent in, for example, Grayscale's Bitcoin trust.

There are currently three applications to launch Bitcoin ETFs awaiting approval by the US Securities and Exchange Commission (SEC). So far, the regulator has rejected all applications to approve the launch of such instruments, but the Purpose Bitcoin ETF only confirms the significant interest in them.

FxPro's team of analysts say:

"Bitcoin has changed very little at the end of the workweek, hovering around $52,000. The ability to gain a foothold at the end of the week significantly above $50,000 will become a sign of buyers' strength, further driving demand in the crypto market.

The news background continues to act as a growth engine, despite the obvious overheating of technical indicators. As an example we have MicroStrategy's decision to raise between $600 and $900 million to buy Bitcoins, and BlackRock's chief investment officer, which has $8.7T in assets under management, announcing his interest in Bitcoin as an alternative defensive asset. So far, these are only verbal statements, and even at this level, he has made it clear that the firm is ready for a very gradual dive into the asset. However, there are now sufficient informational reasons for continued growth."

According to CoinMarketCap’s ranking, 8 currencies on the top 10 are in green.

As for the market cap of all currencies listed in CoinMarketCap, it stays at $1,601,468,102,625.

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