Here are the latest updates about Bitcoin and other cryptocurrencies:
1. Bitcoin's price is on the rise, currently trading around $37,150. Traders are optimistic about the future approval of a U.S. spot Bitcoin ETF, which seems to be a driving factor in the recent price increase. Bitcoin is expected to see around a 6% gain this week.
2. The Bitcoin ETF has sparked a new round of excitement in the cryptocurrency market. Bitcoin's price has climbed for four consecutive weeks, hovering below the $38,000 mark, which is an 18-month high. In the past four weeks, the price has risen by nearly 40%. The U.S. Securities and Exchange Commission (SEC) is anticipated to approve a spot Bitcoin ETF by January 10 of next year.
3. Michael Saylor, the founder of MicroStrategy, which holds the largest amount of Bitcoin globally, believes Bitcoin is key to his company's stock price soaring 245% this year. He sees Bitcoin as enabling his company to compete with major firms like Apple and Microsoft.
4. BlackRock is planning an Ethereum trust fund, and several financial institutions are looking to launch the first spot Bitcoin ETF in the U.S. This development is significant, showing mainstream financial institutions' growing interest and acceptance of Bitcoin.
These news highlights show that Bitcoin and other cryptocurrencies are increasingly becoming a part of mainstream financial markets, garnering more interest from investors and financial institutions.
