iShares Bitcoin Trust ETF is trading 3.3% up today as investors rotate into risk assets following a tentative peace agreement between the United States and Iran.
- The agreement reopens the Strait of Hormuz, significantly easing global inflation concerns and energy-supply fears.
- A resulting drop in oil prices has fueled a broad surge in global equities and U.S. futures, improving overall market risk sentiment.
- Bitcoin is currently up just over 3% in pre-market trading, leading a wider recovery across the cryptocurrency sector.