Bitcoin Price Surges on Prospect of BlackRock Bitcoin ETF Approval

Bitcoin and crypto prices have surged this week after reports that BlackRock applied for a bitcoin spot ETF.

The bitcoin price topped $35,000, its highest in over a year, amid hype over the ETF.

A Galaxy Digital analyst predicts SEC approval of a bitcoin ETF could bring $14 billion of inflows and add 75% to bitcoin's price.

The $48.3 trillion US wealth management industry could gain access to crypto if an ETF is approved.

BlackRock's ETF application in June kicked off a race among Wall Street firms to be first with a bitcoin fund.