At the beginning of the season, the price of the leading cryptocurrency surged past $43,300. There are multiple reasons behind this rise, including growing optimism about ETF approvals and a significant development that took place recently.
According to breaking news from Block, the SEC approved Hashdex’s Bitcoin futures ETF. James from Bloomberg suggested that this approval could be an order for the transfer from Teucrium to Tidal’s trust. Following the news, the BTC price reached $43,475.
As negotiations between the SEC and potential violators gain momentum, and the general belief that approvals will come by January 10th increases, investors’ appetite for risk is growing day by day. In a few weeks, the SEC is expected to announce its decision regarding ETFs anticipated by BlackRock and others.
Trillion-dollar asset managers are taking various steps following the approval process to maintain their confidence. Interest rate cuts, the halving event, and the expected ETF approvals in 2024 indicate an interesting period ahead for the crypto world.