Bitcoin surpassed $45,000 at one stage in Asia on Tuesday morning, amid investor expectations that a spot Bitcoin ETF will be approved in the United States.
The largest cryptocurrency by market capitalization was trading at $44,965, up 5.8% over the past 24 hours, at 9:25 a.m. Hong Kong time, after surging as high as $45,083 at one stage in the morning, according to The Block. data.
Price movements occur following announcements made by the U.S. Securities and Exchange Commission (SEC). According to reports Notification to 14 asset managers If the SEC approves the spot Bitcoin ETF application as soon as Tuesday or Wednesday Deadline: January 10th.
“There’s not a lot happening on the macro side that makes you believe in anything other than the dynamics around cryptocurrencies,” Justin d’Anethan, head of APAC business development at cryptocurrency marketplace maker Keyrock, told The Block.
“In this case, we have heard of Blackrock, Fidelity, and other spot Bitcoin ETF applicants. check “The names of the brokers that will support BTC operations (so far: Jane Street, JP Morgan, Cantor Fitzgerald),” d’Anethan said, adding that the news “firms the current narrative that ETFs are coming soon.” ”
“Most investors are expecting some kind of formal decision by the first half of this month,” he said.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
About the author
Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.