SEC Approves Spot Bitcoin ETF Sending Crypto Surging

Jan 15, 2024 By MarketDepth

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SEC made an early release the previous day before the approval was finalized. Many crypto enthusiasts woke up to very positive news that spot bitcoin etf was approved for a few firms including: Grayscale, Fidelity and Bitwise. This is a huge step forward for the crypto market as investors can partake in investing in the coin without holding it in a digital wallet.

The news sent the crypto market surging with Bitcoin past $46,000 which is up from $43,000 a few days prior. The fake news the previous day sent the coin past $47,000 before the officials responded and announced a hack. The positive or negative effects of a Spot Bitcoin ETF will start to be seen more clearly.