Bitcoin and other cryptocurrencies fell on Friday as the industry fixated on the possibility of approval of an exchange-traded fund (ETF) related to physical trading of Bitcoin.
Bitcoin fell 1.5% in the past 24 hours to $43,450. After briefly climbing above $45,000, the largest cryptocurrency now appears to be back in the $42,000-$44,000 trading range it has occupied since early December.
Speculation…
Bitcoin and other cryptocurrencies fell on Friday as the industry fixated on the possibility of approval of an exchange-traded fund (ETF) related to physical trading of Bitcoin.
Bitcoin
It fell 1.5% in the past 24 hours to $43,450. After briefly climbing above $45,000, the largest cryptocurrency now appears to be back in the $42,000-$44,000 trading range it has occupied since early December.
Speculation rises over Bitcoin ETF approval TechCrunch reporter Jacquelyn Melinek reported Thursday that the Securities and Exchange Commission will approve multiple spot Bitcoin ETFs. In a post on social media platform X, Melinek cited sources close to the matter.
The SEC has a January 10 deadline to decide whether to approve the Spot Bitcoin ETF applications filed by ARK Invest and 21Shares, but it may choose to approve multiple applications at the same time.
“There have been multiple meetings between the SEC, issuers, and exchanges, and there has been growing talk of impending approval.The introduction of ETFs brings in a new group of investors from traditional finance; This could significantly improve market transparency and liquidity, leading to long-term capital inflows into the digital asset market,” said Matteo Greco, Research Analyst at Finekia International.
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Beyond Bitcoin
Ethereum
The second-largest cryptocurrency fell 2.7% to $2,222. Among small virtual currencies,
Solana
Although it fell by 6.2%,
cardano
It was down 7.5%.
dogecoin
It fell 2.8%.
Email Adam Clark at adam.clark@barrons.com.
