The rise momentum in the cryptocurrency markets was initiated by BlackRock’s spot ETF application being accepted. The SEC will initiate the review process for the accepted ETF application.
BlackRock’s spot ETF application, which dropped like a bomb on the cryptocurrency markets in recent weeks, has triggered a significant upward momentum in Bitcoin (BTC). According to experts, this situation, which affects the general cryptocurrency market, could be a significant development for the market to exit the bear season. According to recent announcements, the SEC has accepted BlackRock’s spot ETF application, which has become the agenda of the market. It was reported that the SEC will initiate reviews for the ETF application following the acceptance.
Bitcoin, which took action with the ETF application, has not yet added another approximately 3% increase in the past 24 hours after the news broke. However, according to cryptocurrency experts, the acceptance of BlackRock’s spot ETF application could lead to a positive sentiment and price increase in the general cryptocurrency market, especially for Bitcoin. Additionally, the positive development in the SEC and Ripple case yesterday had also led to significant gains for altcoins in the cryptocurrency markets.