The world’s leading cryptocurrency has been on a tear since the start of October, and is now eyeing new heights as the U.S. Securities and Exchange Commission (SEC) is reportedly set to approve the first Bitcoin exchange-traded fund (ETF).
According to a Bloomberg report late on Thursday which cites sources familiar with the matter, the SEC isn’t likely to oppose the launch of a Bitcoin futures ETF. The current filings in question include applications from ProShares and Invesco, respectively.
Bitcoin Pops on Expectation of BTC Futures ETF Approval by SEC
The price of Bitcoin jumped from roughly $57,300 to $60,000 early Friday morning shortly after the news broke, according to CoinGecko. The last time Bitcoin traded above $60,000 was on April 18.
Despite correcting to $59,278 by press time, Bitcoin is still up 9.8% over the last week, remaining the best-performing asset among the five largest cryptocurrencies.
Bitcoin futures ETF preferred
Due to SEC chair Gary Gensler’s previous
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