Bitcoin, Ethereum, Dogecoin Rise After BTC ETFs Approved By SEC: Analyst Says King Crypto Will 'See New Highs' To $100K
Portfolio Pulse from Mehab Qureshi
The SEC approved Bitcoin ETFs, leading to a surge in major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. The approval follows a court ruling against the SEC's previous rejection of Grayscale's spot ETF proposal. The market anticipates further growth in cryptocurrencies, with predictions of Bitcoin reaching $100K. The overall crypto market cap stands at $1.70 trillion, with a slight decrease in the past 24 hours. Stocks closed higher as investors await inflation data and earnings reports.
January 11, 2024 | 2:52 am
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Grayscale Bitcoin Trust (GBTC) may see a positive impact as the SEC's approval of Bitcoin ETFs follows a court ruling against the SEC's rejection of Grayscale's spot ETF proposal.
The SEC's approval of Bitcoin ETFs is a direct reversal of their previous stance, which had negatively impacted Grayscale's efforts to launch a spot Bitcoin ETF. With the court ruling in favor of Grayscale and the SEC's subsequent approval, GBTC is likely to experience increased investor interest and a potential price increase in the short term.
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IMPORTANCE 85
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