Expectations for spot ETF approval heat up, Bitcoin resumes its upward trend

Zhitong
2023.12.27 13:43
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Bitcoin rebounded, indicating that the U.S. securities regulatory agency may approve the ETF for direct investment in Bitcoin. The price of Bitcoin rose by 2.1%, trading at around $43,000, and other cryptocurrencies also saw some gains. Bitcoin Cash rose by 14%. The founder and CEO of Grayscale Investments resigned as chairman, which may drive institutional demand for the Grayscale Bitcoin Cash Trust. The Grayscale Bitcoin Cash Trust surged by 18% on Tuesday. The market's interest in spot Bitcoin ETFs launched by companies such as BlackRock and Fidelity Investments is still unclear. The U.S. SEC may approve spot Bitcoin ETFs before January 10th.

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