$98,468.00
4.42%$3,341.57
9.74%$258.68
11.39%$637.19
6.53%$1.40
27.74%$0.390132
4.25%$1.00
0.04%$3,338.83
9.91%$0.881085
13.66%$0.199999
2.94%$35.95
9.91%$0.00002491
6.52%$98,190.00
4.36%$3,952.62
9.44%$5.56
5.70%$3.56
1.65%$490.29
12.79%$3,342.95
9.41%$15.13
8.03%$6.21
11.14%$0.00002063
12.19%$0.286401
20.14%$8.65
2.59%$5.89
10.02%$90.63
9.74%$12.19
7.27%$3,519.89
9.84%$9.40
9.18%$0.195895
13.96%$1.005
-0.11%$0.123113
-6.83%$9.40
7.48%$27.82
11.71%$0.0000518
9.46%$7.42
3.75%$0.150428
2.30%$511.81
5.88%$1.002
0.16%$0.461876
9.18%$24.75
3.33%$3.82
2.55%$1.28
6.56%$3.23
7.09%$0.771561
17.06%$160.99
0.86%$1.97
11.24%$4.64
12.40%$45.53
4.59%$0.800498
12.87%$0.03221707
3.61%$6.63
9.86%$2.06
27.15%$168.66
10.02%$0.00026132
-2.99%$25.25
11.49%$5.49
13.03%$1.38
10.73%$0.999973
0.63%$0.221961
4.07%$0.485235
8.25%$3,338.45
9.33%$0.715375
10.22%$1.43
7.55%$0.229109
6.88%$6.49
18.63%$5.32
8.03%$3,727.30
8.51%$0.597539
19.21%$1.68
3.52%$0.163833
5.90%$2.26
10.16%$3,513.10
10.36%$98,510.00
4.36%$1.58
8.71%$1.15
11.46%$98,098.00
4.35%$3,429.52
9.73%$0.410505
3.83%$1,655.56
11.96%$1.008
4.77%$320.60
11.88%$67.88
0.09%$11.14
2.87%$1.29
-1.58%$87.43
0.58%$10.08
4.88%$18.21
8.27%$0.02238254
12.70%$0.0292561
7.60%$0.02177134
4.70%$0.00000115
8.71%$0.717223
7.24%$98,295.00
4.64%$1.082
1.95%$1.21
11.68%$0.461712
9.32%$0.504475
14.69%$3.16
1.73%$273.72
11.74%$0.684999
11.65%$3,327.34
9.35%$0.00000258
21.15%$98,071.00
4.32%$5.78
3.80%$0.02052012
5.59%$0.989451
14.02%$98,228.00
4.55%$3.86
3.66%$13.31
10.21%$11.55
1.94%$1.30
9.78%$1.30
5.11%$0.01014585
1.91%$0.975743
8.46%$5.83
7.91%$0.00004438
1.22%$0.148959
4.13%$5.24
9.80%$0.756151
-0.91%$0.353492
8.04%$1.17
6.40%$1.31
7.45%$30.33
7.61%$262.78
11.75%$3,431.33
9.06%$0.0081653
16.89%$0.387597
3.56%$37.74
10.28%$0.66801
7.81%$0.00188058
13.48%$0.417955
7.50%$0.00740469
10.24%$0.999545
0.02%$0.156083
14.05%$46.04
12.19%$3,346.25
9.77%$267.06
7.70%$0.075148
6.98%$0.00990661
8.63%$2.12
6.84%$2,683.04
1.03%$3,343.85
9.87%$0.997163
0.26%$0.233261
9.03%$0.0425383
0.98%$18.95
11.71%$0.724449
8.67%$0.175049
6.09%$0.00011174
9.40%$3,620.10
9.68%$1.81
12.32%$0.01318985
6.92%$1.30
9.76%$1.28
7.79%$33.02
1.65%$0.574258
59.94%$2.00
8.22%$2.30
11.79%$0.082779
8.76%$0.55613
3.34%$0.00805147
8.19%$3,330.46
9.09%$1.00
0.09%$97,655.00
4.82%$0.148432
13.13%$0.081331
1.45%$0.00156052
5.16%$2,679.98
0.95%$1.055
2.86%$98,302.00
4.19%$0.561342
20.83%$1.42
7.18%$3,311.22
8.50%$0.170849
12.57%$0.251788
8.26%$0.409788
10.49%$0.00000024
7.51%$1.001
0.25%$0.456856
6.43%$98,173.00
4.62%$8.60
3.18%$0.065719
5.61%$54.77
4.51%$3,338.59
9.63%$2.57
18.61%$3.95
12.45%$0.00000048
2.01%$0.487575
5.23%$3.46
26.73%$0.066335
2.99%$0.458296
-11.88%$1.067
-0.74%$3,583.04
9.61%$0.338727
8.17%$3,343.71
9.81%$7.01
9.40%$1.00
0.07%$0.230711
11.84%$3,501.96
9.94%$0.418806
5.73%$8.35
11.00%$0.01330332
8.80%$1.00
0.28%$1.008
1.33%$0.977189
8.96%$0.00765858
7.52%$0.409101
46.14%$0.978646
-1.08%$97.48
-0.50%$0.02103256
8.85%$0.04255863
7.73%$0.04180984
8.27%$3.61
8.19%$0.401871
50.08%$1.063
-0.49%$0.716415
12.07%$1,977.25
4.37%$3,675.83
8.50%$0.551991
7.22%$10.64
9.76%$1.82
27.20%$0.00213416
7.98%$3.51
12.66%$0.00463884
7.38%$98,157.00
4.31%$1.002
0.14%$0.433164
3.20%$0.329469
7.70%$3,535.68
8.69%$0.662734
5.55%$0.00
9.33%$0.04527937
12.46%$0.888964
7.25%$0.360367
6.48%$42.13
9.24%$0.201241
7.57%$97,296.00
4.11%$4.56
8.10%$3.35
15.11%$1.64
16.38%$0.02023328
17.03%$28.72
5.72%$1.34
0.35%$0.668493
8.13%$0.00596081
3.58%$0.033642
4.84%$0.00103759
10.72%$20.87
4.29%
Bitcoin rebounded Thursday above $44,000, as enduring optimism regarding the prospect of an imminent spot Bitcoin ETF approval from the Securities and Exchange Commission offset fears stirred yesterday by an ominous report published on the subject.
At writing, BTC sits at $44,032, up 4.2% from yesterday’s lows.
Digital asset manager Matrixport yesterday predicted that the SEC would likely reject all Bitcoin ETF proposals this month, and instead begin approving such applications in the spring. Off the news, BTC immediately nosedived a sharp 7%.
But analysts who have closely tracked the SEC’s dealings with Bitcoin ETF applicants including BlackRock, Fidelity, and Grayscale denounced the report as lacking substance, and doubled down on their assessment that the first Bitcoin ETF is most likely to be approved in the next week.
At this point saying SEC rejecting it isn’t just going against @JSeyff and I like it was in the early days, now you basically saying multiple mainstream news reporters w multiple sources on inside of this also have it wrong too. Not saying it’s imposs (again we still ‘only’ at…
— Eric Balchunas (@EricBalchunas) January 3, 2024
It appears the market was assuaged by such reassurances. BTC has now almost completely recovered the losses incurred yesterday.
For better or worse, the price movement indicates that BTC’s standing is, at least for the moment, deeply interconnected with the fortunes of a spot Bitcoin ETF.
And for good reason: the financial product, if approved, would allow traditional finance institutions and investors to gain exposure to Bitcoin without holding any cryptocurrency. Analysts have estimated that the instrument could expose $14 trillion worth of assets to Bitcoin.
Eric Risley, managing partner of digital assets advisory firm Architect Partners, previously told Decrypt that the approval of a Bitcoin ETF would constitute a historic game changer and the “legitimization of the [Bitcoin] asset class.”
Hopes related to the approval of a spot Bitcoin ETF have carried Bitcoin far in its almost three-month-long rally. Since October, the world’s top cryptocurrency has climbed a remarkable 64.77% in value, up from $26,750.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
