2024-01-10 00:27:00
Bitcoin briefly rose to $47,914, the highest in more than 22 months, before falling again a few minutes later (archives).
ATS
A fake message posted on the hacked official account of the American market regulator (SEC) caused the price of bitcoin to briefly soar. The market is very nervous before a possible historic announcement for the digital currency.
A little after 10:00 p.m. (in Switzerland), the most important digital currency by amount in circulation rose to $47,914, the highest in more than 22 months, before falling again a few minutes later.
This acceleration came immediately after the publication, on the SEC’s social network X (formerly Twitter), of a message indicating that the regulator had approved the highly anticipated marketing of a new bitcoin investment product, called ETF.
Ruling of an appeal court
The market has been speculating for several weeks on the approval of this new product, an index fund or ETF (Exchange Traded Fund), which would offer, for the first time, investors, an investment replicating the performance of bitcoin without them having to have to directly hold cryptocurrencies.
The SEC has repeatedly rejected marketing applications for similar products in the past, but a recent development has changed the situation. At the end of October, a federal appeals court in Washington confirmed that the SEC was not justified in refusing the approval of its bitcoin ETF to asset manager Grayscale.
A new decision from the SEC on ETFs is expected imminently, because the Wall Street watchdog has until Wednesday inclusive to rule on the oldest validation request currently under investigation, that of the investment company 21Shares.
A green light would, by all accounts, open bitcoin to a broad population of investors and accelerate the adoption of this digital currency.
ATS
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