STARTRADER Market Recap | 21-June-2023

The largest cryptocurrency in terms of market value, Bitcoin, has reaped gains after BlackRock, the world’s largest asset management company, filed a request to launch a spot Bitcoin exchange-traded fund (ETF), which would be the first of its kind in the United States.

Data released yesterday revealed a 21.7% increase in the pace of housing starts, reaching 1.631 million homes in May on a monthly basis. This represents the largest monthly jump in 30 years.

Meanwhile, investors are awaiting Federal Reserve Chairman Jerome Powell’s testimony before the House and Senate today, where he will present his report on monetary policy and the economy to the House Financial Services Committee.