The leading cryptocurrency swiftly left behind $43,300 as of this writing, and there are multiple reasons for the rise. Developments fueling optimism about potential ETF approvals were accompanied by another significant event just moments ago.
Futures Bitcoin ETF Approval
According to breaking news from The Block, the SEC has just approved Hashdex’s futures BTC ETF. Bloomberg’s James suggested that this might be an order to transfer approval from Teucrium to Tidal’s trust. Nonetheless, following the news, the BTC price climbed to $43,475.
The acceleration of discussions between the SEC and potential issuers, along with the widespread belief that approvals will be forthcoming by January 10, is increasing investors’ appetite for risk with each passing day. Just weeks from now, the SEC will announce its decision on pending ETFs from BlackRock and others.
Trillion-dollar asset managers are taking various steps to prepare for the post-approval process, maintaining their confident stance. With interest rate cuts, halving, and ETF approvals expected in 2024, an interesting period awaits us in the crypto world.
