The cryptocurrency market is off to a strong start in 2024, buoyed by the optimism around Bitcoin exchange-traded funds. The top 3 cryptocurrencies by market cap were trading in the green on Saturday morning, with Bitcoin hovering near $44,000 levels.
After months of anticipation, spot Bitcoin ETFs are set to become a reality. CoinGape earlier reported that all 11 ETF applicants filed their 19b-4 amendments with the US Securities and Exchange Commission (SEC). Bloomberg Intelligence analyst Eric Balchunas said the SEC could green-light the Bitcoin ETFs as early as Jan 11.
Amid expectations that SEC approval is imminent, US institutional investors stepped up buying into Bitcoin. Bitcoin Price (BTC) went up nearly 1% over the last 24 hours to $43,945. The OG cryptocurrency has surged 4.5% in the last 7 days, with its market cap standing at $861 billion. However, trading volumes fell 22% to $26.8 billion over the last 24 hours.
Ethereum was also trading in the green on Saturday morning,
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