Jai Sahu
Rumors are circulating that a U.S.-based bitcoin ETF might get regulatory approval this week. On the first day of the new year, the price of bitcoin (BTC) surged by more than 6%, crossing the $45,000 mark for the first time since early April 2022.
This recent upward trend seems to be driven by the expectation that the U.S. Securities and Exchange Commission (SEC) will give the green light for several spot bitcoin ETFs. A Reuters report from the weekend hinted that the SEC might start informing ETF sponsors as early as Tuesday about the approval of their applications.
In the most recent trading session, BTC’s price stood at $45,135, marking a 6.35% increase over the past 24 hours. Meanwhile, the broader cryptocurrency market also shows positive momentum, with ether (ETH) gaining 4%, and solana (SOL) and avalanche (AVAX) experiencing a 9% surge.