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BTC price hovers above $61K amid fresh concerns over fate of physical Bitcoin ETF
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Bitcoin (BTC) saw some rare calm on Oct. 16 as the market continued to digest the approval of the United States' first exchange-traded funds (ETFs).
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $61,500 on Saturday, still up by 4% in 24 hours.
The pair had hit $62,940 hours after the Wall Street open on Friday as news hit that regulators had green-lit two ETF applications after years of failed applications.
These ETFs will have CME Bitcoin futures as the underlying asset, rather than Bitcoin itself, with the Securities and Exchange Commission (SEC) set to begin deciding the fate of "physical" ETFs next month.
Futures-based ETFs have had a mixed reception, with opinions varying considerably on their market impact
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