Bitcoin has jumped above $60,000 for the first time since last April.
The price of Bitcoin approached the record set in April, as traders became increasingly confident that… US regulators will agree On the launch of an exchange-traded cryptocurrency ETF based on futures contracts.
According to what Al-Arabiya.net has seen on the coinmarketcap website, the price of Bitcoin reached $60,316, achieving a gain of more than 5%, approaching the highest level recorded in April at $64,895.
The US Securities and Exchange Commission (SEC) is preparing to allow the first US bitcoin futures ETF to begin trading next week, Bloomberg News reported Thursday, citing people familiar with the matter.
Cryptocurrency investors have been waiting for news of the approval of the country’s first Bitcoin ETF, and some of the cryptocurrency’s rally in recent months has been driven by expectations of this move and how it could speed up its adoption and circulation.
Several fund managers, including VanEck Bitcoin Trust, ProShares, Invesco, Valkyrie and Galaxy Digital Funds, have applied to launch Bitcoin ETFs in the United States. Cryptocurrency ETFs launched this year in Canada and Europe.
US Securities and Exchange Commission Chairman Gary Gensler previously said that the crypto market includes many tokens that may be unregistered securities and leave prices open to manipulation and millions of investors exposed to risk.
The Bloomberg report said the proposals by ProShares and Invesco are futures based and made under mutual fund rules that Gensler said offer “significant investor protection.”