Bitcoin, ETFs, Regulators, SEC, BlackRock, Ark Investments, Fidelity, Invesco, VanEck, Cryptocurrency, Trading, Financial Markets, Market Approval, Investment, Ether, SEC Approval, Cryptocurrency News.
On January 11, Bitcoin maintained its stability after regulatory authorities gave the green light to the first-ever U.S.-listed exchange-traded funds (ETFs) designed to track the world's largest cryptocurrency. This significant development is expected to make Bitcoin more appealing to a broader range of investors.
The Securities and Exchange Commission (SEC) announced on Wednesday that it had granted approval to 11 applications, including those from major players such as BlackRock, Ark Investments/21Shares, Fidelity, Invesco, and VanEck. Trading for most of these approved products is anticipated to commence later in the day.
During Asian trading hours, Bitcoin saw minimal fluctuations and was last priced at $46,337. Earlier in the week, it had reached its highest point in 21 months at $47,897 in anticipation of the SEC's approval. The positive expectations surrounding this regulatory milestone had contributed to Bitcoin's impressive 156% gain last year.
Meanwhile, the second-largest cryptocurrency, Ether, experienced a marginal 0.2% increase, reaching $2,590.20. On Wednesday, it had reached its peak at $2,644, marking its strongest performance since May 2022.
Cryptocurrency Market 2023: Overview, Performance, and Key Events
