Bitcoin price increased by more than 6% on Tuesday, breaking above $45,000 for the first time since April 2022. Bitcoin, the world's largest cryptocurrency, reached a 21-month high of $45,386 earlier in the day and was last up 6.43% at $45,317.67. Other tokens in the broader crypto market rose as well, with ether (ETH) up 3.8%, Solana (SOL) up over 7%, and Cardano up over 5%.
The price of Bitcoin has risen in anticipation of the US Securities and Exchange Commission (SEC) approving the launch of a spot bitcoin Exchange-Traded Fund (ETF).
According to Reuters, the SEC must either accept or reject the Ark/21Shares ETF by January 10. The SEC may notify issuers that they have been allowed to launch the next week as early as Tuesday or Wednesday.
On Thursday and Friday, asset management firms aiming to be among the first to receive regulatory approval to launch spot Bitcoin ETFs revised their files with the SEC, as market participants speculated that a decision from the regulator was imminent.
According to Reuters, BlackRock Asset Management, VanEck, Valkyrie Investments, Bitwise Investment Advisers, Invesco Ltd., Fidelity, WisdomTree Investments, and a joint venture between Ark Investments and 21Shares all filed new documents with regulators outlining the arrangements they have made with their marketmakers to ensure trading is liquid and efficient.
According to the report, issuers who met their end-of-year filing revision deadlines may be allowed to debut by January 10, citing sources.
