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Bitcoin Rallies Above USD 59K on ETF Report
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The most popular cryptocurrency, bitcoin (BTC), jumped by around 4% in less than an hour after Bloomberg reported that the US Securities and Exchange Commission is poised to allow the first US BTC futures exchange-traded fund to begin trading.
At 03:49 UTC, BTC trades USD 59,320 and is up by 2% in a day and 10% in a week.
BTC price chart:
The regulator isn’t likely to block the products from starting to trade next week, the report said, citing people, who asked not to be named while discussing the decision. Four futures-backed Bitcoin ETFs could begin trading on US exchanges this month, with deadlines for applications from VanEck and Valkyrie also approaching, it added.
This month, the SEC already approved an ETF, brought to the market by ETF
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