Dec 27 (Reuters) – Software firm MicroStrategy (MSTR.O) said on Wednesday it had bought bitcoin worth about $615.7 million in cash, amid growing expectations that the top U.S. markets regulator will soon approve a spot bitcoin exchange traded fund (ETF).
The company and its subsidiaries purchased about 14,620 bitcoins at an average price of roughly $42,110 between Nov. 30 and Dec. 26, according to a regulatory filing.
In recent months, a spate of filings, including from traditional finance heavyweights like BlackRock (BLK.N) have revived the crypto markets which had been crushed after several high-profile firms such as Sam Bankman-Fried’s FTX collapsed.
A spot crypto ETF would track the market price of the underlying crypto asset, giving investors exposure to the token without having to buy the currency.
Shares of the Virginia-based company that have surged more than 300% this year, were up another 3.2% in morning trading.
MicroStrategy,…
