Digital currencies were higher to start the week as hopeful investors weighed the likelihood that the U.S. will finally see a bitcoin ETF in the coming months.
briefly soared to start the week as hopeful investors weighed the likelihood that the U.S. will finally see a bitcoin ETF in the coming months.
At one point Monday morning, bitcoin surged above $30,000 in a sudden spike on an unconfirmed report that the iShares spot bitcoin ETF had been formally approved by the Securities and Exchange Commission. But the coin quickly gave up those gains as that report was unable to be confirmed by major media. CNBC called the SEC for comment, which as of 9:30 a.m. had not issued any bitcoin-related directives on its web site.
"The Federal Rules of Appellate Procedure's 45-day period to seek rehearing has now passed. The Court will now issue its final mandate within seven calendar days," a Grayscale spokeswoman told CNBC."The Grayscale team remains operationally ready to convert GBTC to an ETF upon the SEC's approval, and we look forward to sharing more information as soon as practicable."
To be sure, Bbtcoin is coming off its worst week since Aug. 18 and first negative week in six. It lost 4.35% for the week, closing at $26,755.66, according to Coin Metrics. Ether lost 6.36% for the week and ended the week at $1,544.24.Paul Tudor Jones last weekas the regulatory uncertainty in the U.S. crypto industry has investors apathetic about boosting their positions.
The optimism Monday morning lifted other crypto assets. Ripple's XRP and Binance Coin, the top coins by market cap behind bitcoin and ether excluding stablecoins, were each higher by more than 1%. Smart contracts platform Solana'sThis 32-year-old was making $17/hour—now his side hustle brings in $500,000 a year. His top 5 business lessons
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