According to recent reports, blue chip crypto markets are experiencing significant growth with Ether (ETH) rising over 8% in the past 24 hours, surpassing $2,000, and Bitcoin (BTC) surging over 6% and reaching new highs above $37,000. This surge in Bitcoin’s value can be attributed to renewed optimism regarding the approval of spot Bitcoin Exchange Traded Funds (ETFs) by the US Securities and Exchange Commission (SEC). It has been reported that the SEC is in active dialogue with digital asset manager Grayscale regarding their application to transform their Bitcoin Trust into a spot Bitcoin ETF. This shift in tone from the SEC, which previously blocked all spot Bitcoin ETF applications, demonstrates a potential change in their stance. Major financial institutions such as BlackRock and Fidelity have also filed their own spot Bitcoin ETF applications, further indicating a shift towards embracing these investment vehicles.
Blue Chip Crypto Markets Surge as Optimism Grows for Spot Bitcoin ETF Approval
