The crypto asset (virtual currency) Bitcoin exceeded $ 49,000 for the first time since December 2021 on the 11th, when trading in physical investment-type exchange-traded funds (ETFs) began.
US SEC approves physical ETFs as Bitcoin investment gains momentum – judicial ruling also marks turning point
Bitcoin at one point rose 6.7% to $49,021. The US Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETFs after the close on the 10th, giving momentum to the rally.
Sui Chong, CEO of data provider CF Benchmarks, said: “Bitcoin spot ETFs are a big turning point for financial advisors, as they will need to have an opinion on this asset class.”” he noted. “The ability to invest through regulated products forces advisers to at least have their own opinion, although they may not yet recommend them to their clients. “The inflow of capital will become more stable.” The company provides indexes for a select number of approved ETFs.
Bitcoin Volume Bounce
Trading of tokens rose to the highest in almost 10 months on the approval of the US spot ETF
Source: CoinGecko
news-rsf-original-reference paywall">Original title: Bitcoin Surges Past $49,000 as US Spot ETFs Begin Trading (excerpt)
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