The price of the cryptocurrency bitcoin is rising significantly today. It briefly crossed the $37,750 mark this afternoon, the most since last May. According to analysts, the information that the US Securities and Exchange Commission (SEC) is reviewing 12 applications for the authorization of bitcoin spot exchange-traded funds (ETFs) by next Friday seems to have an impact.
The growth of the biggest cryptocurrencies
Shortly before 3:30 p.m. EDT, bitcoin had gained over six percent in the past 24 hours, hovering around $37,547, according to CoinDesk. The price of the second-largest cryptocurrency, ether, was up 2.7 percent to roughly $1,941 in the same time.
Expected moves
The interest in bitcoin is sparked by expectations that bitcoin ETFs are nearing approval in the United States. Since the beginning of this year, bitcoin has gained over 120 percent, but is still noticeably weaker against the high of nearly $69,000 in late 2021.
Bloomberg analysts James Seyffart and Eric Balchunas say approval of all applications by next Friday is only a possibility. But they believe there is a 90 percent probability they will be approved by Jan. 10.
Source Czech Press Office
