An imminent American decision to restore glory to “Bitcoin” . It is approaching its level record

Bitcoin’s price hit a six-month high on Friday, close to record established in April as traders became increasingly confident that US regulators would agree to launch Cryptocurrency ETFs It is negotiated in exchange based on futures contracts.

The largest cryptocurrency in the world rose nearly 4% to $ 59,664, the highest level since mid-April. It has doubled in value questyear and is close to its April high of $ 64,895.

The United States Securities and Exchange Commission (SEC) is preparing to allow the first futures ETF on bitcoin of the United States to begin trading next week, Bloomberg News reported Thursday, citing people familiar with the matter.

“The fourth quarter of the year is expected to see significant progress in trading bitcoin US, “said Ben Caslin, head of research and strategy at cryptocurrency exchange AAX based in Asia.

He added that Friday’s moves were also suggested by a tweet from the Office of Investor Education of the SEC.

The SEC tweet stated that “Before investing in a fund that holds Bitcoin futures, be sure to carefully weigh the potential risks and rewards. “

Cryptocurrency investors have been waiting for news of the approval of the country’s first Bitcoin ETF, and some of the cryptocurrency’s rallies in recent months have been driven by expectations of this move and how it could accelerate its adoption and circulation.

Several fund managers, including VanEck Bitcoin Trust, ProShares, Invesco, Valkyrie and Galaxy Digital Funds, have asked to launch ETFs bitcoin in the United States. Cryptocurrency ETFs have been launched quest’year is in Canada that in Europe.

US Securities and Exchange Commission chairman Gary Gensler said in previously that the cryptocurrency market includes many token which could be unregistered securities and leave prices open to manipulation and millions of investors exposed to risk.

The Bloomberg report says ProShares and Invesco’s proposals are futures-based and made under mutual fund rules that Gensler says offer “significant investor protection.”

Read More About: Business News

Follow AsumeTech on

More From Category

More Stories Today

Leave a Reply