Coinspeaker
Bitcoin Jumps to $47K, Ethereum and Crypto-Related Stocks Surge after Spot BTC ETF Approval in US
In a historical twist, the US Securities and Exchange Commission (SEC) approved the listing and trading of 11 spot Bitcoin (BTC) ETFs on Wednesday, January 10. The approval of the spot Bitcoin ETFs narrowly avoided rejection with the support from SEC Gary Gensler. Moreover, the other two Democratic-affiliated commissioners – Caroline Crenshaw and Jaime Lizárraga – voted against the approval of spot Bitcoin ETFs. Consequently, the Bitcoin price briefly rallied above $47.7k in the past 24 hours but has since retracted to trade around $45.7k during the early Asian session on Thursday.
Nonetheless, Bitcoin‘s bullish sentiment has significantly increased, putting in mind the fourth halving event about 100 days from happening. Moreover, there are more deep-pocketed investors seeking to purchase Bitcoins led by El Salvador, BlackRock Inc (NYSE: BLK), and Grayscale Investments,
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