As the world’s attention turns to the potential approval of Bitcoin Exchange Traded Funds (ETFs), a significant development occurred with companies updating their S-1 forms. Following this event, Bitcoin’s price soared, reaching up to $45,000, and a noticeable increase was observed across the cryptocurrency market.
Shortly after the update, Bitcoin experienced a remarkable rise, climbing 1.8% to a level of $45,200, with the price maintaining above $44,750. The trading volume of the cryptocurrency also saw a significant increase, jumping 63% to $27.5 billion.
Leading altcoins such as ETH, BNB, XRP, and SOL also enjoyed gains. ETH rose by 1.62% to $2,259, BNB surpassed the $300 mark to reach $301, XRP found buyers at $0.56, and SOL returned to the $93 level.
Multiple institutions raced to submit their final Form S-1 amendments to the U.S. Securities and Exchange Commission (SEC) on January 8, in anticipation of the decision on the first Spot Bitcoin ETFs in the United States. Valkyrie was the first to submit its final S-1 amendment before the expected date of January 10.
Following Valkyrie, major firms such as WisdomTree, BlackRock, VanEck, Invesco, Galaxy, Grayscale, ARK Invest, and 21Shares also updated their filings. The new week’s submissions could mark a historic week for Bitcoin, with issuers expected to complete their Form S-1 amendments today, which contain details on market makers’ management fees and identities for potential ETFs.