Bitcoin holds firm after regulators approve ETFs
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Synopsis
It had surged to its firmest in 21 months at $47,897 earlier in the week in anticipation of the SEC approval, after those expectations contributed to an impressive 156% gain in bitcoin last year.
Bitcoin was little changed in Asian hours and was last at $46,337.
It had surged to its firmest in 21 months at $47,897 earlier in the week in anticipation of the SEC approval, after those expectations contributed to an impressive 156% gain in bitcoin last year.
Ether, the second-largest cryptocurrency, rose 0.2% to $2,590.20, after having peaked at $2,644 on Wednesday, its strongest since May 2022.
"The approval of these spot bitcoin ETFs is a pivotal moment in the evolution of the cryptocurrency market," said Brett Tejpaul, head of Coinbase Institutional.
"With major asset managers bringing the world of digital assets to millions through this regulated product, these ETFs are set to catalyse industry growth, unlocking trillions in new capital."