The price of Bitcoin (BTC) jumped over 5% in the last 24 hours, surging above $27,000 for the first time since the market crashed earlier this month,
As is often the case, where bitcoin goes, other cryptocurrencies soon follow, and at the time of writing, the global crypto market capitalization was up 3.91% in 24 hours. Bitcoin Cash has seen even bigger gains, with BCH up 12%.
The decision was immediately welcomed by crypto traders, with most altcoins seeing a sharp rise in value. And while it doesn’t automatically change the SEC’s position, just the possibility that a Bitcoin ETF could be on the way appears to have improved market sentiment. Echoing an opinion shared by many in the US crypto sector, Judge Neomi Rao highlighted the seeming hypocrisy of the SEC’s stance:
Should the SEC finally allow cryptocurrency funds to be traded on US exchanges, it will mark a turning point for the US crypto sector. Of course, before then, the SEC could approve Grayscale’s ETF application or any of the other Bitcoin funds waiting in the wings.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Grayscale's Chief Legal Officer Talks Bitcoin ETF Decision; Bitcoin Price Rallies on Grayscale Court WinGrayscale Investments Chief Legal Officer Craig Salm joins 'First Mover' to discuss the next steps after a federal court ruled the SEC must review its rejection of Grayscale’s attempt to convert the GBTC into an ETF. Kaiko Director of Research Clara Medalie discusses the market reaction as bitcoin (BTC)'s price surged on the news. Plus, former SEC Special Counsel Hermine Wong shares insights into the impact of the SEC issuing its first enforcement action targeting NFTs.
Read more »
Chinese gov’t fires up the printer — How will it impact Bitcoin price?Bitcoin price could be impacted by China’s newly enacted economic stimulus interventions.
Read more »
GBTC Bitcoin 'discount' may be gone by 2024 as share price gains 17%Bitcoin investment vehicle GBTC may rid itself of its discount to BTC price next year.
Read more »
Bitcoin hits two-week peak after Grayscale spot bitcoin ETF ruling By ReutersBitcoin hits two-week peak after Grayscale spot bitcoin ETF ruling
Read more »
USD/CAD Price Analysis: Pullback towards 1.3550 seems imminent as Oil price recovers, Greenback dropsUSD/CAD remains on the back foot around 1.3600 after reversing from a three-month high the last week, not to forget the previous day’s U-turn from an
Read more »
WTI Price Analysis: Oil price drops below $80.00 within immediate bearish channelWTI crude oil remains pressured for the second consecutive day as sellers attack the 200-SMA support amid the early hours of Tuesday’s European sessio
Read more »