Cryptocurrency Markets Surge as ETF Hopes Rise
The leading cryptocurrency surpassed the $42,000 mark again approximately two hours before the daily close, pushing its annual peak higher. Just a few minutes ago, the price reached $42,333, and we may see it surpass $42,500 in the coming minutes. The rise, spurred by the BlackRock news, had already been signaled.
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A few minutes ago, we announced a last-minute S-1 update in the Bitwise ETF application and said that more would follow. Bloomberg experts indicated that file updates are a sign of moving closer to ETF approval. The SEC is now setting aside its negative approach to cryptocurrencies and starting to engage with potential issuers.
BlackRock has also updated its S-1 filing for a spot Bitcoin ETF application. Investors hoping for approval by January 10 are growing more optimistic with such movements. Of course, we also see the price of BTC rising as a result. We had already mentioned in November that December could be poised for significant surges for these reasons.