Bitcoin price rose sharply to $47,000 after positive ETF developments

Bitcoin price rose sharply to ,000 after positive ETF developments

The price of Bitcoin (BTC) is currently skyrocketing and has reached $46,000 for the first time in almost two years. The optimism about mass adoption in the race for Bitcoin is spot on ETFs Exchange-traded funds (ETFs) received an additional boost today thanks to several notable developments. We look at the recent explosion in Bitcoin prices and list the latest developments.

Gift 🎉: Bitvavo is offering our readers free BTC, XRP or any other cryptocurrency 🚀


BTC ETF Developments

All candidates to launch a Bitcoin exchange-traded fund have filed amended S-1 forms with the US before today’s deadline. Securities and Exchange Commission (second). We now have to wait for the regulator to issue a decision, which will be announced on Wednesday at the latest.

Recent filings reveal new details about the initial financing amounts. Investment company Van Eyck It provided a potential spot Bitcoin ETF with $72.5 million, according to its amended Form S-1.

Crypto asset manager Bitwise She provided the proposed ETF with $500,000. Additionally, Pantera Capital announced that it is considering investing $200 million in the fund if it gets the green light. It is important to note that it is emphasized that this is merely an expression of interest and not a legally binding commitment.

The final S-1 filings also disclosed trading costs for all listed funds. You can find all the details in a previously published article.

As did the American news platform CNBC today He expressed his expectation that several Bitcoin ETFs will be approved on Wednesday. Trading will then begin starting Friday, according to CNBC.

See also  CLA wages rise to a record high | Economy

Bitcoin price reaches $47,000

All the developments have brought the hype for ETFs to a new high, and logically also give the price of Bitcoin a big boost. At 6:00 PM, the price was still trading at $45,000, but had just reached the absolute peak of $47,000.

At the time of writing, the price of BTC on SATOS-backed cryptocurrency exchange Bybit is $46,795. On Dutch cryptocurrency exchange Bitvavo, the price of BTC in euros is 42,766. Compared to 24 hours ago, Bitcoin rose by 6.09%.

It stands to reason that the rest of the market would also turn green. However, Bitcoin is currently in the spotlight, and most altcoins are performing less well than the king of cryptocurrencies. For example, Ethereum is up 4.09% in the past 24 hours, Solana (SOL) is up 3.67%, Ripple (XRP) is up 1.47% and Cardano (ADA) is up 4.06%.

Would you like to discuss this news? Join our vibrant Telegram community of 5,000+ members for free! Here you can easily discuss the latest cryptocurrency trends and forecasts.

Post views: 0

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top