Bitcoin climbs as BlackRock files for ETF backed by the cryptocurrency

Bitcoin rose Thursday afternoon as BlackRock, the world’s largest asset manager, filed an application for an exchange-traded fund backed by the cryptocurrency. 

The largest cryptoBTCUSD gained over 2% over the past 24 hours to around $25,665 on Thursday, according to CoinDesk data. The coin rallied over 50% so far this year, but is still down about 60% from its all-time high in 2021.