In a significant update, the SEC is set to announce its decision on spot Bitcoin ETFs by January 3 or 4. This news has already propelled Bitcoin’s value up by 5%, surpassing $46,000 and marking a notable 9% increase for both the week and the year.
Needless to say, the excitement and anticipation is very high in the crypto community. Here are all the details you need to know.
Awaiting the SEC Announcement
The financial world is closely watching as the U.S. SEC prepares to make a statement about spot Bitcoin ETFs, a move that many experts have been anticipating.
BlackRock, a key player in finance, recently shared with Fox Business media about the potential approval of spot Bitcoin ETFs. They believe the SEC could give the green light as early as January 3 or 4, setting the stage for a significant shift in the crypto market.
If approved, several asset managers are ready to introduce spot Bitcoin ETFs on major exchanges like Nasdaq, Cboe BZX, and NYSE Arca. The anticipated launch date is January 10, giving the market a clear timeframe to prepare for this important event.
Also Read: Bitcoin Bulls Pay Premium as Bitcoin Funding Rates Hit New Highs: Is an ETF Really Worth It?
Bitcoin Continues Soaring!
Amidst the regulatory discussions, Bitcoin’s value has surged by over 5%, crossing the $46,000 mark. This increase represents a notable 9% gain for Bitcoin over the week and year-to-date.
Bitcoin’s recent upward movement suggests it could reach around $47,600 soon. This positive trend reflects the overall market sentiment, generating excitement among traders and investors.
Crypto’s defining moment is NOW.
With the SEC’s forthcoming announcement and Bitcoin’s impressive performance, the crypto market is entering a significant phase, highlighting the growing importance and potential of digital currencies.
Source: https://coinpedia.org/news/sec-decision-on-bitcoin-etf-applicants-expected-by-january-4-hinted-by-a-giant-investment-firm/