Posted 12/2/2023, 12:45:41 PM
Bitcoin Nears $40K as Crypto Market Eyes SEC Decisions on Spot ETFs
- Bitcoin price has surged to near $40,000, helping drive up prices of other major cryptocurrencies like Ethereum and XRP
- SEC will decide whether to approve Bitcoin spot ETFs from major financial firms between January 5-10, 2023
- Approval could trigger significant new institutional investment and price increases across crypto market
- Delayed approval would suggest SEC chair Gensler and regulators still hesitant about Bitcoin spot ETFs
- Crypto investors see Bitcoin spot ETF approval as a "buy the rumor, buy the news" event to drive major new crypto adoption